By Eric Bleeker
Publication Date: 2026-03-09 00:15:00
Oil futures are rattling the markets on Sunday night. NVIDIA (NVDA) shares are down 1.66% as of 8:15 p.m. ET while Amazon (AMZN) is down 2.3% and Meta Platform (META) is down 2%.
While all these stocks aren’t connected to oil, they are dependent on the global economy. With oil prices up 18% in premarket trading, there are fresh concerns of an economic slowdown. That could cause extra harm to advertising reliant companies like Amazon and Meta Platforms.
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Oil futures have rocketed past $100 per barrel tonight, and Wall Street is already flinching. Nasdaq futures are down more than 400 points, off 1.7% as of Sunday evening. The question: why are NVIDIA (NASDAQ:NVDA), Amazon (NASDAQ:AMZN), and Meta (NASDAQ:META) in the crosshairs? None of them drill for oil. The answer is transmission: consumer confidence, advertising budgets, and corporate spending freezes.
We’re taking a deeper look at stock futures headed into Monday, March 9th. The Nasdaq could see a major sell-off for reasons that feel disconnected from Magificent 7 stocks. Yet, many will likely open in the red tomorrow. Let’s examine what’s going on.
Gas prices are the most visible economic signal most Americans encounter daily. The national average is already $3.45 per gallon according to AAA, and I’ve warned repeatedly tonight that prices could push toward AAA’s all-time record of $5.02 set on June 14,…
