Bob Iaccino of Path Trading Partners recaps the morning's market action, noting early declines across U.S. equities with Nasdaq-100 futures leading the drop. He examines the surge in crude oil past the $100 mark as Middle East geopolitical risks escalate. Iaccino also covers the European Central Bank's decision to raise its deposit rate by 25 basis points and its impact on the euro. Finally, he previews the economic calendar, highlighting a $22 billion 30-Year Treasury bond auction, the ongoing corporate earnings slate, and upcoming gross domestic product and inflation data.