US futures dip over Trump threat and Iran jitters, 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.”