US Futures Slip 0.5% Before Hormuz Deadline

U.S. stock futures slipped Tuesday, with S&P 500 down 0.5% to 6,621.5, Nasdaq 100 down 0.6% to 24,225, Dow down 0.3% to 46,771.
President Donald Trump warned that if Iran fails to reopen Strait of Hormuz by 8 p.m. ET Tuesday, the U.S. may launch strikes.
Iran rejected a U.S.-backed 45‑day ceasefire proposal, demanding permanent conflict end, sanctions lift, compensation and broader regional settlement.
ISM PMI fell to 54.0 in March, missing the 54.8 forecast, while the prices‑paid index rose sharply—the largest in 13 years—signalling inflation.