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Dow, S&P 500, Nasdaq futures plunge ahead of week defined by Trump’s Fed pick, jobs data


US stock futures tumbled early on Monday after a dramatic sell-off in gold and silver unnerved investors, with tech leading the way as AI trade worries circled and Federal Reserve uncertainty deepened.

Nasdaq 100 futures (NQ=F) dropped 1%, while those on the S&P 500 (ES=F) fell roughly 0.8%. Contracts on the Dow Jones Industrial Average (YM=F), which includes fewer tech names, slid 0.6%. All three indexes retraced deeper losses overnight that followed a sharp reversal on Wall Street on Friday.

Stocks remain under intense selling pressure as precious metals continue a rollercoaster ride that has seen them unwind much of 2026’s most rip-roaring rally in recent days. Gold briefly fell as much as 10% on Monday, while silver (SI=F) sank over 15%, having tumbled roughly 30% in its biggest single-day drop on record in a Friday wipeout. Both were paring losses at last check.

Over the weekend, bitcoin (BTC-USD) sank below the $80,000 mark for the first time since April, extending losses after a volatile end to last week. The cryptocurrency was last trading just below $77,000 per token.

Wall Street is heading into a new month jittery after President Trump announced Kevin Warsh as his nominee to lead the Federal Reserve. That move has opened the door to speculation on what will happen to interest rates over the coming months, with most traders still expecting two rate cuts by the end of the year.

Investors are also digesting fresh uncertainty around Nvidia (NVDA) and the broader artificial intelligence trade. Big Tech has led market moves throughout the start of 2026 with an ever-increasing appetite for earnings leading companies in opposite directions.

The week ahead brings a wave of corporate earnings, with more than 100 S&P 500 (^GSPC) companies set to report results. High-profile names on the calendar include Amazon (AMZN), Alphabet (GOOG), Disney (DIS), Palantir (PLTR), and Advanced Micro Devices (AMD).

Data releases this week include the all-important January jobs report, due Friday morning. Economists expect payrolls to have added 65,000 jobs last month, with the unemployment rate set to hold at 4.4%.

LIVE 4 updates

  • Jenny McCall

    premarket trending tickers: Estee Lauder, GameStop and Newmont

    Estée Lauder (EL) stock rose 6% before the bell on Monday. The cosmetics and beauty company said it has entered into a partnership with SalonCentric to distribute its products across more than 850 US stores.

    GameStop (GME) stocks continued to rise on Monday after climbing 4% on Friday, following the news that CEO Ryan Cohen wants to expand the company through acquisitions.

    Newmont (NEM) stock fell more than 3% during premarket hours on Monday. The gold mining company’s shares edged lower after gold fell 2% below $5,000.

  • Dollar Gains as Gold, Silver Slide Hurts Commodity Currencies

    Bloomberg reports:

    The dollar (DX-Y.NYB) strengthened again Monday, advancing the most against currencies sensitive to commodity prices, as a plunge in gold (GC=F) and silver (SIL=F) rippled across markets.

    The greenback rallied the most against the currencies of Australia, New Zealand and Norway in early London trading, as gold extended losses after its biggest plunge in more than a decade on Friday. Silver sank as much as 16% Monday after its intraday loss on Friday was the steepest on record.

    … The dollar’s gain of about 1% over Friday and Monday comes after the world’s reserve currency slumped in the second half of January.

    The bounceback may have caught some investors off guard, given shorting the greenback was one of the most popular macro trades last month. Until the end of last week, US threats against Greenland and President Donald Trump’s apparent embrace of the currency’s selloff had only fueled debate around the greenback’s long-term decline.

    Read more here.

  • Bitcoin extends losses heading to $73,000 support level

    Yahoo Finance’s Ines Ferré reports:

    Read more here.

  • Gold and silver continue to fall after record drop

    Bloomberg reports:

    Read more here.



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Tags :Federal ReserveNasdaq 100Precious MetalsPresident TrumpS&P 500US stock futures
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