Markets Plunge on Iran Tensions, Space IPO Buzz

0:00It's April 2, I'm Cory with the story. This is U.S. News Today, driven by AI and built for America. Futures for Wall Street's main indexes dropped Thursday morning, the last trading day of a short holiday week after President Trump hinted at ramping. Up military action against Iran over the next two to three weeks. This came right after he suggested to reporters the U.S. could pull out fast, leaving markets rattled by mixed signals. Earlier this week, optimism about wrapping up the Middle East conflict had indexes on track for their biggest weekly gains in four months, snapping a five week slide. But now, Dow futures fell 537 points, or 1.15%, S&P 500 E-minis dropped 89.5, 0 points, or 1.35%, and NASDAQ 100 futures shed 429.50 points, or 1.7, 8%. Traders hate uncertainty, and it's hitting hard.

1:00The fear gauge VIX jumped 2.1 points to 26.64. Back in March, vague timelines crushed global stocks, with S&P and NASDAQ posting their worst monthly drops in a year, while oil prices soared. Now, higher energy costs are sparking inflation worries, killing hopes for Federal Reserve rate cuts this year. Shifting gears Elon Musk's SpaceX filed confidentially for a U.S. initial public offering Wednesday, eyeing a $1.75 trillion valuation. Smaller space players like Rocket Lab rallied on the buzz. Eyes are also on Friday's non-farm payrolls data, though markets stay shut for good Friday, plus jobless claims today, and Dallas Fed remarks. All this sets the stage for volatile, close to the week, with Iran, tensions, and fresh space sector hype keeping investors on edge as we head into the holiday.