Dow futures fall 300 points as Wall Street braces for potential U.S. ground assault on Iran and Houthi attacks that could slash oil supplies further

Investors are looking past President Donald Trump’s attempts to talk oil prices down as reports signal an increasing likelihood that U.S. ground troops will be deployed to fully reopen the Strait of Hormuz.

The 31st Marine Expeditionary Unit has arrived in the Middle East, and the 11th MEU is en route, while thousands of paratroopers with the 82nd Airborne Division are headed there too. Another 10,000 U.S. troops are reportedly under consideration for deployment as well.

Futures tied to the Dow Jones industrial average fell 298 points, or 0.66%. S&P 500 futures were down 0.62%, and Nasdaq futures lost 0.68%.

U.S. oil futures rose 2.4% to $101.99 a barrel, and Brent crude climbed 2% to $114.88. The national average gasoline price reached $3.98 a gallon on Sunday, up $1 over the past month, according to AAA.

The U.S. dollar was up 0.14% against the euro and flat against the yen. The yield on the 10-year Treasury fell 1.2 basis point to 4.428%. Borrowing costs rose last week after a series of Read Entire Article