09:05 AM EST, 03/03/2026 (MT Newswires) -- US equity futures were down ahead of Tuesday's opening bell as traders turned risk-averse amid the deepening conflict in the Middle East.

Dow Jones Industrial Average futures were down 1.6%, S&P 500 futures were 1.7% lower, and Nasdaq futures were down 2.1%.

Concerns are building over the potential growth drag and inflationary shock from the conflict, particularly as rising oil prices threaten to push energy costs higher and complicate the broader economic outlook.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 7.3% at $83.45 per barrel and US West Texas Intermediate crude 6.9% higher at $76.15 per barrel.

In other world markets, Japan's Nikkei closed 3.1% lower, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 1.4% lower. Meanwhile, the UK's FTSE 100 was 2.7% lower, and Germany's DAX index was down 3.5% in Europe's early afternoon session.

In equities, Best Buy ( BBY ) shares were 11% higher pre-bell after the company reported higher fiscal Q4 adjusted earnings. Target ( TGT ) stock was up 4% after the company reported higher fiscal Q4 adjusted earnings.

On the losing side, MongoDB ( MDB ) shares were 27% lower, a day after the company issued fiscal Q1 adjusted earnings guidance that trailed analysts' estimates. Surgery Partners ( SGRY ) stock was down 22% after the company reported late Monday lower Q4 adjusted earnings.