Stock futures down 90 points as traders monitor oil prices, Iran response to US bombing

“This kind of uncertainty is quickly becoming the new normal for markets, so I expect to see a relative sense of calm unless we see tensions keep rising, which, to be clear, it has the potential to do,” said Josh Gilbert, a market analyst at eToro in Sydney. “Even without an immediate fallout, the mix of oil volatility and renewed uncertainty is likely to be enough to keep risk appetite subdued.”

“It’s very highly likely that Iran will strike back against the United States in some way,” said Ben Zala, senior lecturer in international relations at Monash University in Melbourne. “The market in this regard will be very, very reactive to military events in the region — across stocks, bonds, currencies — because we just don’t know the exact way that this is going to play out.”