U.S. stock futures fell on Monday as tensions escalated between the United States and Iran, raising investor concerns and pushing oil prices higher, while semiconductor stocks came under selling pressure.

Markets started the week in a tense atmosphere after the U.S. and Iran exchanged attacks, and Tehran announced the closure of the Strait of Hormuz, one of the most vital chokepoints for global energy supplies, according to Reuters.

The latest military developments raised doubts about the future of the interim agreement between the U.S. and Iran, signed last month with the aim of reopening the strait and ending the war after 60 days of negotiations.

Crude oil futures rose more than 3% as investors assessed the rising risks to this vital shipping lane. Nasdaq futures, which include major technology companies, led the declines, while semiconductor stocks were among the biggest losers in pre-market trading.

Memory chip stocks fell sharply, with Micron Technology down 5.3%, while Western Digital, Seagate, and SanDisk fell 5.5%, 4.3%, and 6.5%, respectively.

SK Hynix, listed in the U.S., dropped 8.1% after its strong debut on the Nasdaq on Friday.

The iShares Semiconductor ETF fell 2.6%.

Kathleen Brooks, research director at XTB, said: 'These developments indicate that rising geopolitical tensions and higher oil prices are once again hindering market momentum, putting pressure on the tech sector and negatively impacting semiconductor stocks.'

As of 6:58 a.m. Eastern Time, Dow Jones futures were down 19 points, or 0.04%; S&P 500 futures fell 23.25 points, or 0.31%; and Nasdaq 100 futures dropped 283.5 points, or 0.94%.

These moves came ahead of a week packed with economic data and corporate earnings, which will test the resilience of the U.S. stock market rebound and the strength of corporate profits.

The S&P 500 has risen more than 10% year-to-date, remaining less than 1% below its record high set in early June. The index also posted its second consecutive weekly gain last week, overcoming volatility in chip stocks and renewed U.S.-Iran tensions that brought inflation risks back to the forefront of investor concerns.

Major Wall Street banks, including JPMorgan Chase, Goldman Sachs, and Morgan Stanley, are expected to report their second-quarter results this week. Netflix, General Electric, and UnitedHealth will also release their quarterly earnings.

Data from the London Stock Exchange Group expects S&P 500 companies' earnings to grow 23.7% in the second quarter compared to the same period last year.

Investors will also watch a set of key economic data, starting with the U.S. consumer price index on Tuesday, which could reshape market expectations for the path of interest rates. Producer price data is due Wednesday, followed by monthly retail sales figures on Thursday.

Federal Reserve Chairman Kevin Warsh is scheduled to deliver his first testimony to Congress on monetary policy on Tuesday, while Fed Governor Christopher Waller speaks later on Monday about the economic outlook. Data from the London Stock Exchange Group shows markets expect at least a 25-basis-point rate hike by the end of the year.

In stock moves, Deckers Outdoor rose 1.6% after Jefferies, an investment banking firm, upgraded the footwear maker to 'buy'.