NEW YORK — S&P 500 futures decreased 0.2% after President Trump threatened to restart military action against Iran. This decrease followed two separate threats made by President Trump regarding Iran within the last 24 hours.

Geopolitical developments also saw the price of Brent crude decrease to $79 per barrel from $81 per barrel. Mediators in Switzerland reported "encouraging progress" regarding peace talks. A report indicated "major progress" in negotiations. A communication line was established to ensure ships could transit the Strait of Hormuz safely, and a "de-confliction cell" was created to reduce fighting between Hezbollah and Israel. Oil continued to flow through the Strait of Hormuz despite Iran's statements that the strait was shut.

In other market activity, the S&P 500 index had closed up 1.08% in its last session. The Stoxx 600 decreased 0.14% in early trading in Europe, while the U.K.'s FTSE 100 remained flat before lunch. Asian markets showed increases, with South Korea's KOSPI increasing 0.69%, Japan's Nikkei 225 increasing 1.55%, and India's Nifty 50 increasing 0.48%. China's CSI 300 also increased 2.39%, and Bitcoin was priced at $64,100.

Separately, Fed chairman Kevin Warsh issued a rate-setting statement containing 132 words. This statement was the shortest Fed statement in approximately 20 years. For comparison, Jerome Powell's last Fed statement contained 341 words.

UBS economist Paul Donovan commented on the brevity of the statement. Donovan said, "The Fed's statement was somewhat troubling. Warsh seemingly believes that roughly 130 words can summarize an increasingly complex economic outlook in a global economy experiencing the most dramatic change in 250 years. The statement was 62% the length of [Donovan's daily notes], which struggle to summarize a single day's outlook." ING economist Carsten Brzeski stated, "If the MoU really is the start of successful negotiations, we could eventually return to a macro world that we had actually expected at the start of this year: a gradually recovering global economy with risks of inflation undershooting and central bank rate cuts. An almost beautifully boring economic outlook, or is that wishful thinking?"