The Dow futures fell as much as 1,100 points, the S&P 500 futures are down over 150, while the Nasdaq futures tumbled as much as 6500 points in early trading.
Both Brent and US Crude futures surged nearly 20% each as trading resumed after the weekend break to cross the $100 per barrel mark. Both varieties are now trading near the $110 per barrel mark. Oil prices rebounded on Friday evening after the initial fall as Qatar’s Energy Minister warned of prices surging to $150 if Gulf countries are forced halt production due to the ongoing war in West Asia.
Wall Street had sold off during Friday’s session as well owing to multiple concerns surrounded financial markets, including the rise in oil prices. The Dow Jones was down 3% last week, the worst since US President Donald Trump’s liberation day tariff announcements back in April last year. The S&P 500 also fell 2% last week, while the tech-heavy Nasdaq was down 1.2%.
The fall was accelerated due to a disappointing jobs report, which raised questions regarding the stabilisation of the labor market in the country. Non-farm payrolls in February fell by 92,000, in comparison to estimates of an addition of 50,000.
“Markets are clearly jittery as the impact, and duration, of the war in the Mideast are very uncertain, with a potentially wide range of outcomes for economies and important market influences,” BlackRock CIO Rick Rieder wrote to clients on Friday.
BlackRock also fell over 7% on Friday after it limited client redemptions in one of its largest funds.
The week is also an important one from a macro standpoint, as investors follow the releases on CPI inflation for last month, PCE inflation, GDP figures as well as job openings, scheduled for later in the week. There will also be earnings reports from companies such as Hewlett Packard Enterprises, Kohl’s, Oracle, Dollar General and Dick’s Sporting Goods.
First Published: Mar 9, 2026 4:27 AM IST