The sharp pullback came as global investors reacted to headlines of escalating military conflict in the Middle East, with Israel and Iran trading lethal missile barrages. US crude climbed 1.21% to $72.64 per barrel, extending gains from last week as markets priced in potential disruptions to energy supply chains.

Stocks were lower on Tuesday as investors pored through the latest developments in the Middle East, with the conflict between Israel and Iran raging on.

US stock futures fell as investors braced for ongoing Israel-Iran hostilities that could draw in the US, along with the Federal Reserve's upcoming interest rate decision.

Stock futures were staging an early comeback Monday after sharp declines on Friday. As the conflict between Israel and Iran shows no signs of cooling, any recovery in stocks will likely be fragile. Over the weekend,

Futures on Wall Street continue to trade with losses after benchmark indices gave up all of Monday's gains during Tuesday's trading session. The Dow futures are currently trading 100 points lower, while the S&P 500 and Nasdaq futures are trading 15 and 75 points lower respectively.