On Tuesday, President Donald Trump ordered military strikes against Iran after a U.S. Apache helicopter was brought down near the Strait of Hormuz.
Trump Orders 'Very Strong, Very Powerful' Strikes on Iran After Apache Goes Down Near Hormuz; Oil Tops $91
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Oil Prices Climb, Stock Futures Slip
Dow futures fell 62 points, or 0.12%, to 50,847.00, while S&P 500 futures declined 12.75 points, or 0.17%, to 7,380.00 and Nasdaq 100 futures lost 65.75 points, or 0.23%, to 29,051.25 as of around 9:10 p.m. EDT.
In commodities, WTI crude oil climbed 0.41% to $88.56 per barrel, while Brent crude advanced 0.55% to $91.95 per barrel. Natural gas futures slipped 0.25% to $3.132 per MMBtu.
Meanwhile, the U.S. dollar index stood at 99.980, down 0.01%.
Asian markets traded lower, with South Korea's KOSPI falling 2.76% to 7,873.77 and Japan's Nikkei 225 declining 1.02% to 64,749.53.
Trump Orders Retaliatory Strikes After Helicopter Incident
The latest escalation followed a Monday incident in which a U.S. Apache attack helicopter went down near the Strait of Hormuz.
Trump said Iran was responsible and defended the U.S. response during an interview with ABC News.
"I believe the response should be very strong, very powerful and that's what this one is," Trump said.
The two pilots survived and were rescued after the aircraft went down during a patrol mission near Oman's coast. Trump later downplayed the severity of the incident, telling The Wall Street Journal that it "wasn't a big deal" because "the pilot is fine."
In a post on X, U.S. Central Command said American forces conducted precision strikes against Iranian air-defense systems, surveillance radar installations and ground-control facilities near the Strait of Hormuz.
The military described the operation as a "proportional response" to recent attacks on U.S. forces and international shipping in regional waters.
Iran Vows Response As Tensions Rise In Strait Of Hormuz
Foreign Minister Abbas Araghchi also wrote on X that Iran would "leave no attack or threat unanswered."
In a separate message, he warned that foreign military forces operating in the region faced growing risks and suggested that the best way to reduce tensions was for them to leave.
Iranian state media reported explosions near several locations around the Strait of Hormuz, including Qeshm Island and areas near Bandar Abbas, Reuters reported.
Iranian officials also disputed allegations that the country had conducted offensive military operations in the waterway during the previous 24 hours.
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