Global Morning Macros Snapshot | PDC 08:00 IST | Wed, 9 Sep 2026

 OIL CRISIS — Brent hits $99, Houthis strike Saudi Aramco, US destroys 5 IRGC tankers | Dow -628 pts

Futures Data (PDC Terminal)
 Dow: 52,752.8  -260.2 (-0.49%)  SHORT TERM NEGATIVE
 Nasdaq: 29,582.9  +23 (+0.08%) POSITIVE
 S&P 500: 7,680.6  -19.7 (-0.26%) POSITIVE
 Russell 2000: 2,960.2  -15.4 (-0.52%)  SHORT TERM NEGATIVE
 Crude: $99.30  +0.89 (+0.90%)  APPROACHING $100
 Gold: 4,374.5  -30.4 (-0.69%)
 DXY: 98.765  -0.16%
 USD/INR: 94.80 (flat)
 US 10Y: 4.794%  -0.13%
 US 30Y: 5.243%  -0.48%
 Gift Nifty: 23,666  -47.5 (-0.20%)  SHORT & MEDIUM TERM NEGATIVE
 India VIX: 11.16 (flat)

 US Markets Close — Sep 8 (Tue)
 Dow: -628.18 pts (-1.18%) → 52,786 |  S&P 500: -0.58% → 7,674 |  Nasdaq: -0.32% → 26,421
• Broad selloff — Dow's worst day in over a month; back-to-back losses (2nd straight session)
• Oil was THE driver — Brent hit $99 intraday; WTI above $94
• Qualcomm +7% on AWS AI infra partnership; SaaS stocks hit — Salesforce -4%, Intuit -4%, ServiceNow -5% on OpenAI competition fears
• Canada retaliatory tariffs on ~$20B of US goods took effect Tuesday
• Key CPI data due Thursday — will determine FOMC trajectory

 Geopolitics & War — MAJOR ESCALATION
•  Houthis struck multiple Saudi Aramco facilities in Jazan, Najran, Abha, Khamis Mushait — 73+ civilians injured; fires at energy facilities forced temporary shutdowns
• US CENTCOM destroyed 5 IRGC-linked oil tankers — 4 in Gulf of Oman, 1 near Kharg Island (Iran's primary oil export terminal)
• Late Tue: explosions reported near Kharg Island — oil spiked a second time in 24 hours
• Iran planning maritime "exclusion zone" outside Hormuz — will stop vessels transiting without Iranian permission
• Hormuz oil flow collapsed: 4.9M bpd now vs 21.6M bpd pre-conflict (EIA)
• Goldman raised Brent forecast by $5; warns $120+ possible if Gulf output stays 4M bpd below pre-war levels
• Oil YTD: Brent +62% | US gas +40% since war started | Diesel record $5.90/gal | National avg gas $4.15/gal
• War-risk insurance premiums 40-60x pre-crisis; adding ~$7-8/barrel to crude

 World Market Headlines
• India (Sep 8 close): Nifty 23,779 (-118.55, -0.5%) | Sensex 76,133 (-383, -0.5%)
• India VIX surged +4.5% to 11.16 — fear gauge rising
• India FII/DII (Sep 7): FII bought ₹280 Cr | DII bought ₹567 Cr — both sides buying but small amounts
• FII net short index futures: 2,50,093 contracts — massive downside hedge intact
• US mortgage rates hit new 2026 high, approaching 7%

 Gift Nifty: Flat to negative opening indicated  -47.5 pts
 Oil at $99.30 and approaching $100 is the single biggest risk for Indian markets — OMCs, current account deficit, inflation expectations all under pressure. FOMC next week (Sep 15-16) with 60% hike odds. Defensive posture warranted.

 Key Events:
•  Thu Sep 11: US CPI data — critical for FOMC decision
•  Sep 15-16: FOMC MEETING — rate hike decision