2026.03.0612:15:03UTC+00US Futures Slide to Multi-Month Lows

US equity futures fell sharply on Friday as mounting evidence that the war in the Middle East will keep energy prices elevated for longer darkened the outlook for the US economy. Futures on all three major stock indices traded about 0.6% lower, hovering near their lowest levels of the year.

Energy prices jumped after producers in the Persian Gulf cut output and tanker operators delayed or avoided new loadings. The resulting rise in benchmark borrowing costs further eroded expectations for Federal Reserve rate cuts in 2024. Hawks on the FOMC have also drawn support from evidence of continued labor-market strength, with the February jobs report due before the opening bell.

Interest-rate futures now imply expectations for only a single Fed rate cut this year. Financial stocks remain under pressure, with banks, insurers, and asset managers in focus as emerging strains in private credit portfolios challenge perceptions of the sector’s resilience. BlackRock, Blackstone, Bridgewater, and Blue Owl were all on track to extend losses this week following their late-February selloffs.