U.S. markets had been on a two-year tear coming into 2025, though many believed that stock prices had become overinflated.

West Texas Intermediate futures traded near $63 a barrel after tumbling 2.5% in the previous session. Brent closed above $66.

Stocks tumbled Monday over worries about President Donald Trump’s trade war and his criticism of the Federal Reserve.

An index of Asian shares retreated while equity futures for US stocks rose slightly, indicating shares may bounce back after ...