Dow futures plunge sharply: 5 things to know before market opens

Wall Street futures opened cautiously lower as Dow futures slid about 0.14% (≈70 points), reflecting a risk-off tone driven by stalled US–Iran talks and a near 3% jump in oil. Brent traded near $108/bbl and WTI near $97/bbl amid reported Strait of Hormuz disruptions that could withhold 10–13 million bpd, while US Treasury yields moved higher ahead of a key week for Fed guidance. The article highlights sector trade ideas — buy XLE for energy exposure and sell Meta after China blocked its ~$2bn Manus AI acquisition — and notes mixed global market action (European indexes roughly flat, Japan’s Nikkei at fresh highs, China/Hong Kong lagging). Overall, geopolitics, oil-driven inflation risk and rate expectations are weighing on equities into a heavy week of earnings and economic data.