(Bloomberg) — U.S. equity futures slid Monday amid fears about inflation risks for the world economy as oil soared after the Biden administration raised the prospect of working with allies to ban imports of Russian crude.
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S&P 500 and Nasdaq 100 contracts fell more than 1%, Australian shares dipped and traders elsewhere in the Asia-Pacific braced for a volatile open. Brent crude hit $139 a barrel, and West Texas Intermediate scaled $130 a barrel, before both paring some of the rally.
The euro sank — dropping to parity against the Swiss franc for the first time since 2015 — on concerns about the economic outlook for Europe, which relies on Russian energy. Havens such as sovereign bonds and gold rallied. A dollar gauge rose and is around the highest levels since 2020.
Secretary of State Antony Blinken said Sunday the U.S. and its allies are looking at a…
