Nasdaq 100 futures fall 0.95% as crude surge fuels risk-off move

US stock index futures declined across the board Tuesday evening, with Nasdaq 100 futures falling 0.95% as a rally in crude oil prices above $91 a barrel stoked concerns over inflation and geopolitical risk.

The selloff in futures followed a mixed regular session Monday that saw the Nasdaq 100 close at 29,155.18, up 1.93%, while the S&P 500 added 0.89% to 7,509.20. The Dow Jones Industrial Average rose 0.74% to 52,224.64. The Cboe Volatility Index, or VIX, settled at 17.42, up 2.17% from the prior close, signaling rising unease beneath the surface of Monday's gains.

Brent crude climbed 2% to $91.01 a barrel, while West Texas Intermediate rose to $84.91, as escalating US-Iran tensions threatened supply disruptions in the Middle East. The move in oil pressured futures across sectors, with the Dow futures down 0.22% and S&P 500 futures slipping 0.38%. Gold rose to around $4,101 an ounce, while the US Dollar Index held at 101.15.

The Treasury market added to the pressure, approaching a milestone not seen since 2007 as the 10-year yield edged higher. The broad-based futures decline suggests investors are repositioning ahead of the regular session, with technology and growth names bearing the brunt of the selling as higher energy costs threaten to squeeze margins and delay potential Federal Reserve rate cuts. The Nasdaq 100's 52-week range of 22,673.88 to 30,762.20 leaves room for further downside if crude continues its ascent toward the $100 mark.

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