Dow futures drop 200 points, setting Wall Street up for an ugly start

U.S. stock futures fell sharply on Monday, indicating Wall Street is set to continue the heavy losses seen last week, as oil prices weakened and investors rushed to the perceived safety of gold.

Dow Jones Industrial Average futures YMH6, -1.27% slid 204 points, or 1.3%, to 15,926, while S&P 500 futures ESH6, -1.37% dropped 25.05 points, or 1.3%, to 1,850. Nasdaq-100 futures NQH6, -2.21% fell 70.25 points, or 1.7%, to 3,952.25.

The losses come on the heels of the biggest weekly drop in a month for U.S. equities. The Nasdaq Composite COMP, -3.25% fell 3.3% on Friday and logged a 5.4% weekly drop, its biggest in a month, as the so-called FANG stocks crumbled. Those stocks are Facebook Inc. FB, -2.85% Amazon.com Inc. AMZN, -3.61% Netflix Inc. NFLX, -3.07% and Google parent Alphabet Inc. GOOGL, -2.57% .

A mixed U.S. jobs report and weak oil prices played a role in last week’s dives, which included a 1.6% weekly drop for the Dow industrials DJIA, -1.29% and a 3.1% slide for the S&P 500 SPX, -1.85% Oil prices lost more than 8% last week, and early Monday, WTI crude CLH6, -2.36% fell 78 cents, or 2.5%, to $30.11 a barrel.
The Republican primary: 3 things to watch (1:40)

As voters in New Hampshire choose a Republican presidential candidate Tuesday, here’s what the front-runners need to do and why several establishment candidates are facing a make-or-break moment.

Investors will be looking ahead to comments from Federal Reserve Chairwoman Janet Yellen on Wednesday and Thursday, when she testifies to Congress about the economy and monetary policy. Last week’s jobs data prompted questions about the Fed’s future interest-rate policy, as Friday’s data showed slower jobs growth, but decent wage inflation.

Hasbro Inc. HAS, -2.37% will release earnings ahead of the open on Monday, and Yelp Inc. YELP, -8.45% will report after the close.

Shares of LeapFrog Enterprises Inc. LF, +72.08% could be active after VTech Holdings Inc. 0303, -1.34% said it will buy the struggling educational toy maker for $72 million in cash.