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Dow futures tumble 350 points after rockets hit US airbases in Iraq

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(Emmanuel Tambakakis/CNN)

(CNN) -- US stock futures dropped Tuesday evening after more than a dozen rockets hit an airbase that houses US forces in Iraq.

Dow futures dropped around 350 points Tuesday evening. Futures for the S&P 500 were down around 1.15% and Nasdaq futures were down around 1.4%.

Earlier, the Dow ended its trading day down 120 points as investors braced for Iran to retaliate against the United States. Last week, a US drone strike killed Qasem Soleimani — an Iranian commander and one of the country's most powerful men. He was head of the Revolutionary Guards' Quds Force, an elite unit that handles Iran's overseas operations — and one deemed to be a foreign terrorist organization by the United States.

US crude jumped nearly 4% to around $65 a barrel Tuesday evening. Crude, which settled at $62.70 a barrel during regular trading Tuesday, climbed as high as $65.48 a barrel.

Safehaven assets, including gold, meanwhile, rose late Tuesday. Gold was up up 2% to $16,05.32 per ounce. Cryptocurrency Bitcoin was up 5.3% to $8,329.51.

At least 10 rockets hit the al-Asad airbase in Iraq, which houses US forces, a Sunni commander of the paramilitary forces in a nearby town told CNN.

Iranian state TV reported that Iran’s Islamic Revolutionary Guard Corps, or IRGC, “has hit U.S. Ain al-Asad airbase in Iraq with tens of missiles.” The IRGC warned the US of of more “crushing responses in case of new aggression,” according to state TV. The IRGC said it will target any regional state that becomes a platform for US aggression, a second banner on state TV read.