Markets on the Brink of a Correction as Iran War Rages On. Stock Futures Fall.

Stocks are nearing their first correction in about a year as the Iran war drives up oil prices and sparks worries about a resurgence in inflation. The three major indexes have tumbled for four weeks in a row, putting them on the brink of closing in correction territory. The selloff gathered pace on Monday after President Donald Trump said over the weekend that the U.S. would “hit and obliterate” various Iranian power plants if Tehran didn’t open the Strait of Hormuz within 48 hours.