Dow Jones, Nasdaq, S&P 500 futures indicate a gap-down opening ahead in US stock market today; here's your quick guide

US stock market today: The three main US stock market benchmarks — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — are poised for a gap-down start to the last trading day of the week, mirroring a sea of red across their European and Asian peers amid persistent concerns about higher-for-longer interest rates, and health of the banking system as well as the world's largest economy.

The banking space the world over has been rocked by the sudden collapse of Silicon Valley Bank (SVB) over the past few weeks, though a last-minute rescue of the troubled Credit Suisse has somewhat calmed investors' nerves.

Wall Street today: What to expect in the US stock market at the opening bell

At 6 pm India time, the futures contracts of the three main gauges pointed to a sharply negative start ahead in the US share market. The Dow Jones contract was down 362 points — or 1.1 per cent, and the US megacap tech stocks-heavy Nasdaq Composite down 84 points — or 0.7 per cent. 

Here's where the three contracts — Dow futures, S&P 500 futures and Nasdaq futures — stood an hour before the opening bell on Wall Street:

• Dow Jones: down 362 points — or 1.1 per cent — at 31,957
• S&P 500: down 37.8 points — or one per cent — at 3,940.3
• Nasdaq Composite: down 84 points — or 0.7 per cent — at 12,770 

MSCI's All-Country World Index (ACWI) — aimed at capturing moves across major markets around the globe — was down 0.6 per cent. 

Heavy losses in Deutsche Bank and UBS weighed on the European markets in early hours. The pan-European Stoxx 600 index was down, with the UK's FTSE 100, France's CAC and Germany's DAX down 1.5 per cent each. 

Back home, equity benchmarks Nifty and Sensex closed lower for a second straight day, failing to stay green in a choppy day amid selling pressure in financial and oil & gas shares. ALSO READ: TCS, Infosys, other IT stocks a mixed bag after Accenture posts strong results but trims guidance

Earlier on Friday, MSCI's broadest index of Asia Pacific shares outside Japan fell 0.7 per cent. 

• Japan's Nikkei 225: down 0.2 per cent
• Singapore's Straits Times: down 0.2 per cent
• Hong Kong's Hang Seng: down 0.3 per cent
• South Korea's KOSPI: down 0.6 per cent
• Shanghai Composite: down 0.6 per cent

Here's a list of key triggers for the US stock market today: 

• Findings of private PMI surveys on manufacturing and services in the US
• Oil rig count date
• A speech by Fed official James Bullard

How the US stock market fared on Thursday, March 23: 

The US blue-chip indices managed to finish a session full of see-saw moves on Thursday with mild gains after US Treasury Secretary Janet Yellen sought to reassure investors of steps to ensure the safety of deposits, building on the remarks of Fed Chair Jerome Powell the previous day. As he announced the latest Fed rate hike, Powell also promised to take all steps necessary to keep the banking system safe and sound.

• Dow Jones Industrial Average: up 0.2 per cent
• S&P 500: up 0.3 per cent
• Nasdaq Composite: up one per cent (Read more on US stock market action on Thursday)  

Here's a look at some of the key headlines in focus in the US stock market this week: 

• Fed announces second back-to-back rate hike of 25 bps
• Jerome Powell promises to keep banking system safe

Catch highlights of the March 24 session in the Indian share market here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.