Stock market today: Dow, S&P 500, Nasdaq futures drop, oil prices jump as a joint attack from US and Israel rocks Iran

Futures tied to the Dow Jones Industrial Average (YM=F) dropped astir 1%, oregon implicit 500 points. Contracts connected the S&P 500 (ES=F) and Nasdaq 100 futures (NQ=F) besides sank astir 1%.

The strikes came precocious Saturday aft Tehran rejected US demands to standard backmost its atomic program. Iranian leaders person promised a beardown response, raising the anticipation of a broader determination confrontation.

Oil markets reacted immediately. Brent crude futures (BZ=F), the planetary benchmark, jumped astir 13% successful aboriginal trading to commercialized astir $80 a barrel, portion US benchmark WTI (CL=F) traded astir $73. Iran is OPEC’s fourth-largest producer, and questions stay astir governmental enactment and stableness successful the aftermath of Supreme Leader Ali Khamenei’s death. Gold (GC=F) futures besides jumped.

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).