Oil prices surge, causing panic in global markets
Wall Street had a rough start to the week, with US stock futures dropping sharply (Dow futures fell by 950 points) after oil prices jumped above $100 a barrel.
The S&P 500 and Nasdaq futures also slid, reflecting worries about rising tensions in West Asia and what it could mean for global markets.
Gulf production disruption could lead to price hikes
Oil could get even pricier if Gulf production is disrupted, with some warnings suggesting prices might reach $150 a barrel.
This comes on top of last week's losses across major indexes and a disappointing jobs report showing payrolls dropped instead of growing.
Investors are now keeping an eye on upcoming inflation, GDP numbers, and big earnings reports from companies like Oracle.
BlackRock's recent 7% drop after limiting fund withdrawals is just another sign that markets are feeling pretty uneasy right now.