US futures tumble as Trump says Iran deal is 'over'; oil climbs

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AI summary

US stock futures tumbled after President Trump declared the Iran deal is 'over', deepening concerns over renewed Middle East escalation and undermining the US-Iran ceasefire. Both Brent and WTI crude futures rose more than 5%, lifting US energy stocks in premarket trading. Dow E-minis fell 620 points (1.17%), S&P 500 E-minis dropped 63.75 points (0.84%), and Nasdaq 100 E-minis shed 330 points (1.12%). Investors are also watching the Fed's June policy meeting minutes for inflation and growth cues.