Business
US Futures Slide 2%; Oil Spike Rekindles Inflation Fears On Wall Street
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Wall Street futures fell up to 2% Tuesday amid West Asia tensions and rising oil prices. Asian markets also declined, with Japan down 3.06% and South Korea’s KOSPI down 7.24%.
Wall Street Futures Sink as Oil Rally Clouds Rate Outlook
Wall Street futures tumbled up to 2 per cent on Tuesday morning, pointing to a weak start for US markets as rising tensions in West Asia unsettled global investors. The spike in crude oil prices has renewed concerns over inflation at a time when markets were hoping for stability in interest rates. The risk-off mood was visible across equity futures, with traders cutting exposure to technology and broader market indices.
E-mini Nasdaq-100 Futures dropped more than 2 percent to 24,519.50 USD, down 505.75 points from the previous close of 25,025.25. The contract touched a low of 24,370.00 after opening at 25,002.75, indicating sharp early selling pressure. Volumes remained elevated at over 1.63 lakh contracts, suggesting active repositioning by investors amid heightened volatility.
Meanwhile, E-mini S&P 500 Futures declined 1.48 percent, or 102 points, to 6,786.25 USD. The index futures slipped from a previous close of 6,888.25 and hit an intraday low of 6,742.75.
Asian markets witnessed sharp selling pressure on Tuesday as escalating tensions in West Asia and rising oil prices rattled investor sentiment across the region.
Oil Futures Spike
Crude oil prices surged sharply, with Crude Oil rising by 4.777 dollars, or 6.71 percent, to trade at 76.007 dollars per barrel.
Meanwhile, Brent crude jumped 5.482 dollars, or 7.05 percent, to 83.222 dollars per barrel, reflecting strong upward momentum in global energy markets.
Asian Markets Bleed
Japan’s benchmark index plunged 3.06 percent to close at 56,279.05, down 1,778.19 points from the previous close of 58,057.24. The index opened at 57,729.80 and slid to an intraday low of 56,091.54, reflecting broad-based weakness.
Meanwhile, South Korea’s KOSPI saw an even steeper decline, tumbling 7.24 percent to 5,791.91. The index opened at 6,165.15 and dropped to a low of 5,791.65, marking one of its sharpest single-day falls in recent months.
Early signals for Indian markets remained weak, with GIFT Nifty (earlier known as SGX Nifty) pointing to a sharp gap-down opening. As of 5:52 PM IST on March 3, the index was trading at 24,461.0, down 531.5 points or 2.13 percent.
The contract opened at 25,375.0 but quickly came under pressure, slipping to a low of 24,247.0 during the session. The steep decline mirrors the broader global sell-off triggered by rising tensions in West Asia and a spike in crude oil prices, which have heightened concerns over inflation and foreign fund outflows in emerging markets like India.
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March 03, 2026, 17:58 IST
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Gold price prediction today: Will gold prices continue to be volatile? Key levels to watch out for April 27, 2026 week – The Times of India
Gold price prediction today: Gold prices will closely track movements on the rate decisions by several central banks, including the US Federal Reserve, this week, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.Gold is currently consolidating after sharp swings in a broad range, indicating a pause rather than a reversal. Price action shows a higher-high structure intact, but the recent sideways movement suggests indecision near the upper supply zone around 158,000–160,000. The formation resembles a short-term flag/triangle continuation pattern, where a breakout on either side will define the next directional move. Volume has tapered slightly, reinforcing the consolidation narrative.Gold prices recently moved from the upper band toward the mid-band (20 DMA), and are now attempting to stabilize. The bands have started to contract, signaling a potential volatility expansion ahead. Sustaining above the mid-band (~150,500–151,000 zone) keeps bullish bias intact, while a breakdown below this could trigger a deeper mean reversion toward the lower band.For the week, immediate support for gold prices is placed at around Rs 150,500, which is followed by stronger support near Rs 148,500. On the upside, the resistance stands at around Rs 155,500, and after that the key supply zone is at Rs 158,000. A decisive close for gold above Rs 158,000 levels can then resume the broader uptrend. However, a break in gold prices below levels of Rs 148,500 may shift the momentum to bearish in the near term.The economic docket is filled with data points and events this week as the focus will be on FED, BOJ, ECB and ECB policy meetings. US consumer confidence, GDP, inflation and durable goods orders data will also be in radar.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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