Stock Futures Fall on Higher Oil Prices, AI Pullback Joe Stonor Thu, October 8, 2026 at 8:35 AM EDT 3 min read CL=F +4.33% ^GSPC -0.26% ^IXIC -0.52% 005930.KS -2.42% ^DJI -0.05% Futures for the Dow Jones Industrial Average led a sharp selloff in U.S. stocks. - Timothy A. Clary/Agence France-Presse/Getty Images Futures for the Dow Jones Industrial Average led a sharp selloff in U.S. stocks, as still higher Treasury yields, rising oil prices and a fresh artificial-intelligence wobble combined to weigh on sentiment.
Dow futures dropped 0.8%, while S&P 500 futures fell 0.5%. Nasdaq futures dropped 0.7% after Samsung Electronics earnings in Korea disappointed markets. The chip maker recorded a ninefold jump in operating profit, yet the print was below market expectations, prompting a 2.4% fall in the stock and a broader drop in Asian tech stocks. U.S. AI-related stocks dropped premarket following a report in The Wall Street Journal that Oracle, Broadcom and SpaceX are all looking to tap debt markets to fund AI investments.
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In Europe, higher oil and natural gas prices—combined with fiscal concerns around France and disappointing German export data—dragged on stocks. The Europe-wide Stoxx 600 fell 0.65% to its lowest level since June.
Brent crude oil prices briefly topped $105 a barrel before paring gains to rise 4.4% to $104.60 a barrel while WTI rose above $92.20 a barrel on heightened concerns of U.S.-Iran escalation. The White House asked the Pentagon to develop options for strikes against Iran ahead of the midterm elections next month, according to a report in The Atlantic.
Meanwhile, a tanker was struck off the coast of Qatar, according to United Kingdom Maritime Trade Operations, while Houthi militants escalated attacks on Saudi Arabia. The approach of a tropical storm in the Gulf of Mexico also prompted supply concerns, with Shell and Chevron both halting production at several sites.
In bond markets, yields rose further. Yields on 30-year Treasurys rose 3.7 basis points to trade around 5.700%, while 10-year yields rose 5.4 basis points to 5.328%. Both levels are below intraday highs in the last session, but remain within reach of multidecade peaks.
The dollar's upward march continued, while bitcoin fell 1.2% to $82,300. Gold prices nudged up following the Federal Reserve's September meeting minutes, which showed minimal urgency for an October rate hike. Futures in New York edged up to $4,152 a troy ounce.
The European Central Bank published minutes from its September meeting, while a handful of Federal Reserve officials speak after Governor Christopher Waller gave a speech in Turkey earlier Thursday.
Write to Joe Stonor at josephmichael.stonor@wsj.com
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