Stock Market Today: Dow Jones, S&P 500 Futures Drop As Trump Threatens Iran To 'Watch What Happens'

U.S. stock futures fell on Friday following Thursday’s lower close. Futures of the major benchmark indices were down.<br /><br />Investors await the delayed January personal consumption expenditure data today, which is the Federal Reserve’s preferred gauge of inflation.<br /><br />Meanwhile, President Donald Trump, in a Truth Social post, warned Iran, saying, “Watch what happens to these deranged sc*mbags today,” after the Iran’s Supreme Leader warned the Strait of Hormuz would remain closed on Thursday, while the IRGC signaled potential retaliation against Israel’s Leviathan and Karish gas fields.<br /><br />These threats to regional energy infrastructure coincide with the confirmed crash of a U.S. KC-135 refueling plane in Iraq and reports of explosions in Dubai following a drone interception.<br /><br />The 10-year Treasury bond yielded 4.28%, and the two-year bond was at 3.76%. The CME Group's FedWatch tool‘s projections show markets pricing a 99.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.<br /><br />The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Friday. The SPY was down 0.30% at $664.05, while the QQQ declined 0.38% to $595.00.