Stock Futures Drop After Dow's Slump. Oil Prices Surge Following Fed's Iran Warning.

After the Federal Reserve meeting, oil prices are back in charge of the market. Stock futures were falling Thursday after steep losses in the previous session as investors woke up to international oil prices at more than $115 a barrel. S&P 500 futures were down 0.4% and Nasdaq 100 futures slipped 0.5%, while Dow Jones Industrial Average futures were 0.3% lower ahead of the open.