India, Sept. 8 -- Following the long Labor Day weekend, stocks are likely to move to the downside in early trading on Tuesday. The major index futures are currently pointing to a lower open for the markets, with the S&P 500 futures down by 0.2 percent.
The downward momentum on Wall Street comes amid a sharp increase by the price of crude oil due to the continued escalation of the conflict in the Middle East.
U.S. crude oil futures are jumping by nearly 2 percent after the U.S. struck three Iranian crude oil carriers over the weekend after Iran launched ballistic missiles toward two U.S. Navy warships patrolling regional waters.
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