Investors should buckle up for a bumpy ride as multiple risks have suddenly converged to test what looked like an unstoppable stock rally.
In just the last few days, the Iran war started heating up again, the AI boom showed signs of a bubble about to burst, and strong jobs data made rate hikes from the Federal Reserve more likely.
Add to that mix SpaceX’s upcoming IPO, which could draw so much demand that investors rushing to raise cash to buy shares could unleash a wave of selling that ripples through the stock market.
Futures tied to the Dow Jones industrial average fell 86 points, or 0.17%. S&P 500 futures were down 0.19%, and Nasdaq futures lost 0.16%.
U.S. oil futures rose 2.6% to $92.88 a barrel, while Brent crude climbed 2.8% to $95.67. Gold fell 0.5% to $4,342 per ounce.
