Stocks Selloff Continues as Oil Prices Surge. Futures Drop With No End to Iran War in Sight.

U.S. stock futures were pointing to further losses early Friday after indexes suffered major drops the previous day. Oil prices are on the rise again as the Strait of Hormuz remains effectively closed due to the war in Iran and markets are beginning to price in longer-term effects from energy and shipping disruption. S&P 500 futures were down 0.3% and Nasdaq 100 futures were falling 0.5%.