10.03.202613:03:28UTC+00US Futures Swing Lower

US equity futures fell on Tuesday as Treasury yields climbed, even amid easing energy prices, underscoring expectations that the Federal Reserve will keep interest rates elevated. Futures on the three major stock benchmarks were down about 0.3%.

Crude oil benchmarks declined for the first time this month after President Trump suggested the war involving Iran may be nearing an end. However, Tehran signaled it is prepared to prolong the conflict following recent attacks on tankers near the Persian Gulf.

Credit-sensitive sectors remained under pressure. Shares of major banks edged lower on concerns that a prolonged period of restrictive Fed policy could weigh on loan demand. Large private credit firms also extended recent losses amid worries about the quality of their loan books, while asset managers were reported to have suffered steep declines tied to heightened volatility in energy markets.

In corporate news, Amazon ticked higher after launching the sale of its $37 billion bond offering. Chipmakers Nvidia and AMD were little changed, following Taiwan Semiconductor Manufacturing Co. (TSMC)’s report of a 30% surge in sales over the first two months of the year.