Stock Market Today: S&P 500, Nasdaq Futures Plunge As Trump 'Re-Escalates' War With Iran— Micron Technology, IBM, General Motors In Focus (UPDATED)

(Editor’s note: The future prices of benchmark tracking ETFs, the lede, the economic data and the headline were updated in the story.)
U.S. stocks dropped on Thursday, which is the last trading day of the week, as the market will be closed for Good Friday. Futures of the major benchmark indices were lower after President Donald Trump‘s address to update on the ongoing U.S.-Israel war with Iran.
Initial jobless claims for the week ending March 28 fell by 9,000 to a seasonally adjusted 202,000, beating expectations and signaling a steady employment landscape.
Meanwhile, the U.S. trade deficit expanded in February to $57.3 billion, a $2.7 billion increase from January’s revised figure, as a surge in imports of capital goods and computers outpaced gains in exports.
Trump’s address skipped wor