US stock futures, including the Dow Jones Industrial Average and S&P 500, fell between 0.4% and 0.6% as investors reacted to escalating tensions in West Asia. President Donald Trump has given Iran until 8 PM Washington time to agree to a ceasefire regarding the Strait of Hormuz, threatening military retaliation if they fail to comply. Iran has rejected a temporary ceasefire proposal, insisting on a permanent resolution and warning of potential retaliation against US allies in the Gulf. Amid these developments, crude oil prices have surged, with Brent crude trading at $110 per barrel and WTI crude at $115.25 per barrel. The Strait of Hormuz, a vital passage for nearly 20% of the world's oil, has seen significant disruptions since conflict erupted in the region on February 28. Investors remain cautious as they await further developments, unsure if Trump will follow through on his threats or seek diplomatic solutions.