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Photographer: Michael Nagle/Bloomberg

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By Youkyung Lee

March 20, 2026 at 12:06 PM UTC

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US futures extended a drop on Friday as earlier hopes for a quick resolution to the war in the Middle East faded. Meanwhile, traders braced for a historic amount of March options expiry.

Contracts on the S&P 500 Index fell 0.4% as of 7:27 a.m. in New York, while Nasdaq 100 futures declined 0.6%. Brent crude oil prices reversed earlier gains to decline 0.7% to around $108. The Cboe Volatility Index rose to around 25.

Iran War: S&P, Nasdaq Futures Slide With $5.7 Trillion Options Set to Expire - Bloomberg