[Brief] US Stock Futures Drop 300 Points at Week Open as Oil Prices Climb
[Brief] CNBC reported on September 8 that US stock futures fell sharply at Monday’s open amid rising international oil prices, with Dow Jones futures dropping about 300 points and both S&P 500 and Nasdaq futures showing declines of varying degrees. The oil price increase was mainly driven by escalating geopolitical tensions in the Middle East and rising transport risks in the Strait of Hormuz. Investors are concerned that sustained high oil prices will push up inflation pressure and force the Federal Reserve to delay its rate-cutting pace. Asian markets came under pressure early in the session, with yen appreciation and Iranian warnings of retaliation further exacerbating risk-averse sentiment. ...