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Dow futures fall more than 100 points after Hamas attack against Israel

Stock futures were lower Monday as the attack on Israel by Palestinian militants adds geopolitical risk to an already fragile market dealing with inflation and surging interest rates.

Futures tied to the Dow Jones Industrial Average fell 125 points, or 0.4%. S&P 500 futures lost 0.5%, while Nasdaq 100 futures slipped 0.6%.

The Israeli-Palestinian conflict escalated to full-blown war on Saturday after militant group Hamas staged an invasion, to which Israel was seemingly caught off guard. Israeli Prime Minister Benjamin Netanyahu asserted that Hamas “will pay a price it has never known before.”

WTI crude oil futures were up by 3% on Monday, trading above $85 per ounce.

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