Wall Street futures declined up to 0.8 percent on Thursday evening India time as Brent crude advanced nearly 5 percent to cross USD 105 a barrel after a report challenged assumptions that US President Donald Trump would hold off escalating the conflict with Iran before next month's elections.
The 10-year US Treasury yield also climbed six basis points to 5.34 percent, further denting market sentiment.
The S&P 500 was poised to retreat from a record high for a second day. Futures fell 0.5 percent, while Nasdaq 100 contracts dropped 0.78 percent. Dow Futures fell 400 points.
Samsung reported a nearly nine-fold rise in profit, but missed lofty expectations. Its stock dropped 2.4 percent in Seoul, while chipmakers languished in early US trading.
Addtionally, Federal Reserve Governor Christopher Waller said further rate hikes will likely be needed to slow inflation, though officials have some flexibility over the timing.