Nasdaq 100 futures fall 1% as WTI crude rises over 2%

The divergence between falling equity futures and rising crude points to a supply-side or geopolitical risk premium building in energy, which typically pressures growth-heavy indices more than broad benchmarks. The Nasdaq's larger decline suggests the move is being read as a cost and margin story for rate-sensitive tech rather than a demand signal. Whether crude holds its gains into the US session — and whether equities treat that as transient or structural — is the open question.