Dow futures fall 800 points as Iran conflict sparks oil surge
Global markets plunge as Dow futures fall, oil surges, and investors brace for escalating U.S.-Iran conflict impacts worldwide.
Global Marketing – (Web Desk) – Wall Street experienced a sharp selloff on Tuesday, March 3, as Dow Jones Industrial Average futures suffered their steepest drop in months.
Dow futures fell more than 900 points, with investors preparing for worsening conditions amid concerns over a potential prolonged conflict between the United States and Iran, which could disrupt global energy supplies.
Futures for the Dow fell 1.8% (around 822 points), S&P 500 futures dropped 1.6%, and Nasdaq 100 futures tumbled 2.5% during premarket trading.
The market’s decline continued from Monday as fears grew following the reported death of Supreme Leader Ayatollah Ali Khamenei in U.S.-Israel strikes, heightening geopolitical tensions worldwide.
Beyond, stock markets Brent crude rose to 9%, touching $85 per barrel while West Texas Intermediate raised more than 8%.
Due to the uncertain geopolitical situation, technology stocks also experienced declines. Nvidia fell 2.9%, Microsoft dropped 1.64% and MongoDB plunged 26.9%.
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Oil sensitive industries including airlines and cruise operators tumbled around 3%.
European markets also mirrored the similar outlooks with Germany’s DAX sliding 3.4% and the UK’s FTSE 100 falling 2.6%.
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