Stock market today: Dow, S&P 500, Nasdaq futures plunge while oil prices surge as Iran conflict jolts markets

US banal futures plunged connected Monday portion lipid prices surged, arsenic subject strikes by the US and Israel connected Iran jolted planetary markets.

Dow Jones Industrial Average futures (YM=F) tumbled 1.6%, oregon implicit 800 points. Contracts connected the S&P 500 (ES=F) sank 1.7%, portion those connected the tech-heavy Nasdaq 100 (NQ=F) dived 2% arsenic the escalating Middle East struggle spurred a retreat from hazard assets.

The strikes connected Iran began precocious Saturday aft Tehran rejected US demands to standard backmost its atomic program. Its Supreme Leader Ali Khamenei died successful the bombing campaign, and Iranian leaders person promised a beardown response, raising the anticipation of a broader determination confrontation. President Trump has said the strikes volition proceed until the US achieves its objectives.

Iran is OPEC’s fourth-largest producer, and lipid prices jumped successful the contiguous aftermath, with Brent crude futures (BZ=F) surging 13%. The planetary benchmark moderated gains to astir 10% connected Monday, but inactive topped $80 a barrel. US benchmark West Texas Intermediate (CL=F) traded conscionable supra $73, up astir 9%. Meanwhile, golden (GC=F) jumped to apical $5,400 an ounce arsenic investors sought little risky assets.

The geopolitical daze adds to an already uneasy situation for equities. The S&P 500 (^GSPC) ended Friday little and closed February successful antagonistic territory arsenic renewed volatility successful artificial quality and bundle stocks rattled markets. Investors person progressively questioned whether accelerated AI adoption could undermine accepted bundle companies’ concern models.

Headlining the week’s economical calendar is Friday’s February jobs report, with Wall Street expecting the US to person added 60,000 jobs, down from January’s stronger-than-expected 130,000 summation that eased recession fears.

In firm news, net play continues, with Broadcom (AVGO) reporting connected Wednesday, followed by Marvell Technology (MRVL) connected Thursday. Retail net volition besides beryllium successful focus, led by Target (TGT) and Costco (COST).

LIVE 3 updates