Dow futures tumble more than 400 points
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Stock futures tumbled after hours on Wednesday, building on earlier losses for the S&P 500 and Dow Jones Industrial Average, as crude-oil prices pressed higher.
The Dow and S&P 500 fell as markets reacted to oil prices and the Iran war. The Nasdaq gained on a boost from Oracle.
Brent crude prices rise on news of mines in the Strait of Hormuz and reports that nearby cargo ships were struck.
All three major indexes fell on Friday, but one held up better than expected. The reason has more to do with oil tankers than tech stocks.
Futures linked to the Dow Jones are down nearly 450 points, while those linked to the S&P 500 are also down 50 points. Nasdaq futures are also trading with losses of nearly 200 points.
Stocks finish mostly lower on Wednesday as 10- through 30-year Treasury yields jump on the risks of inflation.
The Dow, S&P 500, and Nasdaq rebounded sharply after President Trump suggested the conflict in Iran was going to end sooner than expected.
U.S. stocks slid as oil prices surged after an Iranian strike on a tanker widened shipping risks. Dow plunges.
US stock benchmarks formed a decent bottom after a rough 10-day stretch. With the ongoing rebound still timid, we attempt to spot if the rebound will pursue. Read more here.
RBC analyst Arun Viswanathan upgraded shares to Buy from Hold. His price target went to $40 from $29 a share.