Wall St futures drop as oil spikes after Trump rejects Iran peace proposal
SPY•U.S. stock futures fell after President Donald Trump rejected Iran’s peace proposal, while crude prices jumped 3% to about $108 a barrel and Treasury yields rose. Dow, S&P 500 and Nasdaq 100 futures were down 0.36%, 0.49% and 0.98%, respectively.
1. Oil and yields rise
U.S. stock index futures fell on Monday after Trump rejected Iran’s proposal to end the conflict, sending crude prices up 3% to around $108 a barrel and reviving inflation concerns. Longer-dated Treasury yields rose to fresh multi-decade highs.
2. Futures and other stocks
At 5:42 a.m. ET, Dow futures were down 0.36%, S&P 500 futures 0.49% and Nasdaq 100 futures 0.98%. Gold Fields shares fell 16% in premarket trading, while Harmony Gold and Endeavour Silver lost 5% and 6%. Tesla dipped 1% after J.P. Morgan lowered its price target, citing weak third-quarter deliveries.
