Stock futures plunge 1.1%, oil surges on escalating Iran conflict in Middle East

Dow futures dropped 551 points as Iran war escalation rattled global markets. S&P 500 and Nasdaq futures fell 1.1-1.4% while oil rallied on supply disruption fears. Traders should expect volatility in equity indices, potential safe-haven flows to gold and the dollar, and upward pressure on crude oil and energy stocks.