Stock market today: Dow, S&P 500, Nasdaq futures slide as oil jumps amid US-Iran tensions
US stock futures fell on Monday, signaling a return to losses as Middle East tensions kept markets wary ahead of a week dominated by Nvidia (NVDA) earnings.
Dow Jones Industrial Average futures (YM=F) sank roughly 0.7%, or over 300 points. Contracts on the S&P 500 (ES=F) and the Nasdaq 100 (NQ=F) dropped 0.5% and 0.4%, respectively, after Wall Street stocks closed sharply lower on Friday.
Oil prices rose about 1% as the US and Iran remain far from a peace deal, underscored by President Trump’s warning on social media Sunday: “For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them. TIME IS OF THE ESSENCE!”
Brent crude futures (BZ=F) topped $110 a barrel, while West Texas Intermediate (CL=F) changed hands at around $106. The oil rally is keeping alive the inflation jitters that have driven a global bond rout and the pullback in US stocks from record highs.
Investors get insight into the impact of inflation on consumer spending this week in earnings reports from a host of retailers, led by Target (TGT) and Walmart (WMT) on Wednesday and Thursday, respectively.
But the marquee quarterly report comes from Nvidia, which will put a key driver of the US stock market — the artificial intelligence boom — under the microsoft when the chipmaker’s results land on Wednesday.
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Global bond losses leads to yield reaching decade high
Reuters reports:
Bonds from Tokyo to New York extended losses on Monday as rising energy prices from the ongoing Middle East war fanned inflation fears and stoked investor wagers on rate hikes from global central banks.
Benchmark 10-year U.S. Treasury yields, which move inversely to prices, jumped to their highest since February 2025 at 4.631%, having climbed more than 20 basis points last week.
The two-year yield, which is most sensitive to inflation and rates expectations, touched a 14-month top of 4.102%, while the 30-year U.S. Treasury yield rose to a one-year high of 5.159%.
The rising yields lifted the U.S. dollar and cast a shadow over stock markets that have surged on the AI enthusiasm of recent weeks.[MKTS/GLOB][FRX/]
The bond selloff came on the back of a climb in oil prices on Monday, with Brent crude futures at $111 a barrel, as efforts to end the Iran war appeared to have stalled following a drone strike at a nuclear power plant in the United Arab Emirates.
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