When a geopolitical conflict flares up, oil, gold, and the stock market all take a triple hit—this week’s CPI and PPI are probably going to teach people another hard lesson.

Qihuo news: U.S. stock index futures fell today as tensions between the United States and Iran escalated in the Middle East, pushing oil prices higher. Dow Jones Industrial Average futures (YM=F) dropped by less than 0.1%, S&P 500 futures (ES=F) fell by nearly 0.3%, while Nasdaq 100 futures (NQ=F) led the decline, down 0.8%. The market stayed on edge after a U.S. airstrike near the Strait of Hormuz, and Iran carried out retaliatory strikes against U.S. allies. With oil rising, Brent crude (BZ=F) once again neared $80 per barrel. The intensifying conflict has heightened concerns about inflation, and the market is set to receive two key inflation reports: the Consumer Price Index on Tuesday and the Producer Price Index on Wednesday.