US strikes on Iran just hit the tape and S&P futures are already sliding in after-hours. Down 0.32% to 7,369 right now, with Nasdaq futures following lower as the tech bid evaporates again.

Traders had been hoping the earlier rhetoric would stay contained. Instead we get fresh escalation after the downed helicopter comment, and the reaction feels pretty mechanical — risk off, defensives bid, and that familiar overnight gap risk creeping back in.

The move itself is modest so far, but the timing matters. We’re already seeing selling pressure in the same names that led the recent rebound, which suggests the geopolitical premium is getting repriced faster than some positioning accounts expected.

What I’m watching

• Whether 7,350 holds or we test the next obvious zone lower if headlines keep coming
• How oil and gold futures open — the usual cross-asset tells will probably light up first
• Any follow-through in the VIX after the cash open tomorrow

Feels like one of those nights where you either respect the tape or get chopped trying to fight it. Anyone else staying light into the open or looking for specific levels to lean against?