Boeing’s MAX 9 blowout is also sparking market turbulence.
The airline industry’s dismal start to the year helped drag down U.S. stock futures, particularly contracts linked to the Dow industrials index, in which Boeing is a component.
Stock index futures drifted lower, with contracts tied to the Dow leading declines. The S&P 500 shed 1.5% last week to break a long winning streak.
Benchmark U.S. bond yields held above 4%. Ten-year Treasury yields had settled Friday at about 4.04%.
Global markets mostly retreated. The Stoxx Europe 600 traded down. Hong Kong’s Hang Seng Index fell almost 2%, and mainland Chinese indexes sank to fresh multiyear lows.
Oil prices dropped. Benchmark Brent crude fell more than 2% after Saudi Arabia unveiled price cuts.
To watch in the coming days:
Earnings season kicks off in earnest this week. Major companies including JPMorgan Chase and Bank of America are set to report Friday. Jefferies reports later Monday.
U.S. inflation data is up ahead, with December consumer-price data due Thursday, followed by producer prices Friday.
