Forex
Oil Prices Surge Past $100, Sending US Stock Futures Lower
US stock futures fell on Wednesday due to rising oil prices and concerns about inflation. Brent crude rose more than 2% to briefly move above USD 100 per barrel for the first time since July, adding pressure to global markets.
The Dow Jones Industrial Average futures dropped around 331 points, or 0.6%, while S&P 500 futures declined by 0.4%. NASDAQ-100 futures fell 0.5% as investors track rising oil prices, Treasury yields, and upcoming inflation data ahead of the Federal Reserve's September policy meeting.
Kara Murphy, Investment Chief at Kestra Investment Management, described the market move as 'a little bit of a speed bump.'