Nasdaq and S&P futures slide over 1% as yields climb
US stock futures, including the Nasdaq and S&P 500, slid more than 1% on Friday.
Investors are getting jittery as Treasury yields and oil prices climb, both signs that inflation could stick around.
The 10-year Treasury yield hit 4.54%, a high not seen since last June, making folks wonder if the Federal Reserve will hike rates sooner.
Brent near $109 after Hormuz closure
Brent crude oil jumped nearly 3% to $109 a barrel after the Strait of Hormuz closed due to the Middle East conflict, raising fears about energy supplies.
That surge in oil prices dragged down airline stocks like Delta, United, and Southwest by up to 1.5%.
Meanwhile, investors are playing it safe as global tensions and rising costs shake market confidence.
Applied Materials falls while Dexcom rises
Applied Materials saw its stock fall 2.8% even after sharing an upbeat outlook, which just shows how cautious the mood is right now.
On the flip side, Dexcom's shares rose by 2% thanks to some fresh governance changes backed by Elliott Investment Management.