US futures dip over Trump threat and Iran jitters, Boeing plunges after Air India crash

US stock futures dip as Trump threatens unilateral tariffs; Boeing plunges after Air India crash

US stock futures declined by up to 0.7 percent on June 12, as investor sentiment turned cautious following renewed trade threats of unilateral tariffs by from US President Trump on trading partners in coming weeks, and a rise in crude oil prices after simmering middle east tensions involving Iran.

The Dow Jones Industrial Average futures were down 0.7%. S&P 500 futures fell nearly 0.6%, while Nasdaq 100 futures slipped 0.5%.

Shares of Boeing Company and GE Aerospace were under selling pressure in pre-trading hours following the tragic air crash of a London-bound Air India flight in Ahmedabad. Another supplier to Boeing - Spirit AeroSystems - to fell 3% in pre-market trading. Aviation expert Mike Boyd told CNBC it’s 'too early' to draw conclusions. “This is not a brand new airplane. Air India has a very good safety record,” Boyd said, cautioning investors against assumptions of a repeat of Boeing’s previous 737 MAX crisis.

Wall Street jitters were heightened after Trump said the US may begin unilaterally imposing new tariffs on several trading partners within two weeks. Trump said, “We’re going to be sending letters out, in about a week and a half, two weeks, to countries, telling them what the deal is, like I did with EU.” While he indicated willingness to extend the July 8 trade negotiation deadline, he added, “I don’t think we’re going to have that necessity. We made a great deal with China.”

Although US and Chinese officials have reportedly reached a preliminary trade agreement in London, the deal still awaits sign-off from both Trump and Chinese President Xi Jinping.

The heightened trade rhetoric came as Wall Street digested a mixed batch of corporate and macroeconomic signals.

In contrast, Oracle shares surged more than 7% after the software giant reported better-than-expected Q4 results and signaled accelerating growth in its cloud business.

Markets are coming off a soft session on Wednesday, with the S&P 500 and Nasdaq Composite snapping a three-day win streak. The losses were modest, leaving the S&P still just over 2% below its record high from late February. Wednesday’s decline followed a lower-than-expected CPI print for May, but some strategists remained wary of market upside.

Investors are now awaiting May’s Producer Price Index (PPI) due at 8:30 a.m. ET. Economists polled by Dow Jones expect a 0.2% monthly increase, while core PPI (excluding food and energy) is projected to rise 0.3%

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