Futures Drop, Oil Nears $120 as Middle East Fighting, Leadership Move Raise Inflation and Rate Concerns
On March 9, U.S. equity futures fell sharply while crude oil rallied toward $120 a barrel as continued hostilities in the Middle East and a leadership announcement in Iran intensified market anxiety. The move higher in energy prices and the U.S. dollar, alongside a rise in Treasury yields and the Cboe Volatility Index, heightened concerns that infl…