Stock futures were lower on Tuesday as investors pored through the latest developments in the Middle East, with the conflict between Israel and Iran raging on. Wall Street also digested weak retail sales data. Futures tied to the Dow Jones Industrial Average declined 200 points, or 0.5%. S&P 500 futures also dropped 0.5%, along with Nasdaq 100 futures. On Monday evening, President Donald Trump said in a Truth Social post that “Everyone should immediately evacuate Tehran.” Trump also left the G7 summit in Canada early to deal with the situation in the Middle East. French President Emmanuel Macron said Monday that Trump offered a ceasefire between Iran and Israel. However, Trump said his departure from the G7 had “nothing to do with a Cease Fire. Much bigger than that.” “We’re all in a bit of a limbo in terms of whether anything substantive came out of the summit and whether Trump was alluding to new information with his post and his early G7 meeting departure,” Deutsche Bank strategist Jim Reid wrote. Wall Street is coming off a positive session on Monday despite the brewing conflict in the Middle East. The S&P 500 gained roughly 0.9%, while the Dow advanced more than 300 points. The Nasdaq Composite jumped 1.5%. ″Israel’s main short-term objective is to neutralize the Iranian nuclear threat. Longer term, the more difficult goal is to effect regime change, though it is not clear whether that will be achievable,” said Jeff Buchbinder, chief equity strategist at LPL Financial. He added that while every conflict is different, an analysis of 25 geopolitical shocks dating back to the Pearl Harbor attack in 1941 showed that stocks have been resilient in these scenarios. Total drawdowns around these events have averaged 4.6% over an average of roughly 19 days, Buchbinder said. On top of a fifth day of strikes between Israel and Iran, fresh retail sales data weighed on stocks, as consumer spending retreated more than expected in May. Sales for the month dipped 0.9%, worse than the Dow Jones forecast for a 0.6% fall. “The economy is slowing with consumers nervous about exactly what lies ahead and are choosing to save overall rather than flash some cash at the shops and malls,” said Chris Rupkey, Fwdbonds chief economist. U.S. Treasury yields fell on Tuesday after retail sales narrowed more than Wall Street economists had expected, lifting fixed income prices and raising concern that the economy is headed for a slowdown or even a recession. Retail sales dropped by 0.9% in May according to the Census Bureau, worse than the 0.6% contraction that had been estimated by economists surveyed by Dow Jones. Excluding automobiles, sales last month eased by 0.3%, underperforming the Street’s expectation for a 0.1% increase. Gas station sales slid 2% in the month, which can reflect both lower prices but possibly slower economic activity. The yield on the benchmark 10-year Treasury note fell 3.5 basis points to 4.419%, while the 2-year Treasury yield was lower by 1.7 basis points to 3.95%. Asia-Pacific markets traded mixed in choppy trade on Tuesday, as investors assessed the Israel-Iran conflict after U.S. President Donald Trump urged “everyone” to immediately evacuate Tehran. The president subsequently left the Group of Seven summit a day earlier due to the Middle East crisis. Japan’s benchmark Nikkei 225 added 0.59% to end the day at 38,536.74, while the broader Topix index advanced 0.35% to 2,786.95, after the Bank of Japan expectedly stood pat on interest rates at 0.5%, as growth risks loom. The central bank also said it would slow the pace of government bond purchases starting next April. In South Korea, the Kospi index inched up 0.12% to end the day at 2,950.30, while the small-cap Kosdaq fell 0.21% to 775.65. Mainland China’s CSI 300 index ended the day flat at 3,870.38 while Hong Kong’s Hang Seng Index lost 0.34% to close at 23,980.30. Over in Australia, the S&P/ASX 200 benchmark ended the day flat at 8,541.30. Crude oil futures rose more than 1% Tuesday, after President Donald Trump called for the evacuation of Tehran as Israel and Iran traded strikes for a fifth day. The U.S. crude oil contract for July delivery increased $1.04, or 1.45%, to $72.81 per barrel in morning trading, while global benchmark Brent for August rose $1.22, or 1.67%, to $74.45. Gold prices rose on Tuesday as the conflict between Israel and Iran prompted investors to seek refuge in safe-haven assets, as they also await the upcoming Federal Reserve policy meeting. Spot gold was up 0.4% to $3,395.46 an ounce. U.S. gold futures fell 0.1% to $3,414.40. Israel’s attacks on Iran have broadened its conflicts in the region to a level that poses a global threat, Jordan’s King Abdullah said in a speech in European Parliament on Tuesday.