CNBC Business News Update Market Open: Stocks Plunge, US Lost Jobs In February, Oil Prices Soar 3/6/26
Mar 6, 2026
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Markets Open Deeply Lower On Jobs And Oil
- U.S. markets plunged at the open due to a weak jobs report and a surge in oil prices.
- The Dow fell about 850 points, S&P down 108 points, Nasdaq down 384, and Nvidia dropped nearly 2% at the open.
Oil And Yields Tighten Financial Conditions
- Higher oil, rising Treasury yields, and tighter financial conditions pushed corporate spreads and equity volatility up.
- Mike Santoli warned that these forces combine to depress share prices while the economy weakening would deepen the problem.
Jobs Report Shows Net Job Losses In February
- February payrolls unexpectedly declined by 92,000, marking the worst monthly drop since December 2020.
- The unemployment rate rose from 4.3% to 4.4%, its highest since last November, amplifying market concerns.