Late Wednesday, U.S. stock futures edged lower while oil prices surged. Meanwhile, Iran has announced the closure of the Strait of Hormuz and President Donald Trump warned that additional military action could follow if Tehran fails to reach an agreement with Washington.

U.S. equity-index futures fell to the lows of the day - with the E-mini S&P 500 down 0.8% - after reports that an Iranian official said continued ceasefire violations by the U.S. are damaging an already fragile diplomatic process.

Major stock indexes finished sharply lower and oil prices jumped Wednesday. President Donald Trump said Iran would "pay the price" for failing to strike a peace deal with the U.S. The Dow Jones Industrial Average dropped more than 950 points to close below 50000.

U.S. stock futures fell on Wednesday, as the Nasdaq 100, S&P 500, and the Dow Jones indices declined, following Tuesday’s mixed close. Investors are closely watching the upcoming May CPI release before the market opens,

U.S. stock futures were lower, but steady, after a May reading of consumer prices showed the annual rate eclipsing 4%.

The Dow was higher, while the S&P 500, and Nasdaq were down. Oil settled lower on hopes for a deal in the Middle East.

Stock Market Today: The Dow Jones index sold off 300 points Wednesday on Trump's comments. The CPI inflation rate hit 4.2% annually.

U.S. stock futures declined on Wednesday as technology shares extended their recent selloff, while renewed friction between Washington and Tehran dampened risk appetite ahead of a closely watched inflation report that could shape expectations for future interest rate moves.