If stock futures are any indication, today could be a potential Black Monday for markets, plus stocks to watch in the Money and Markets Wall Street Wake-Up.

The Top Story

Over the weekend, Saudi Arabia drastically cut crude oil selling prices for April, sparking another round of massive sell-offs in equities markets.

As a result, Brent crude futures cratered 29% early Monday morning to $32.11 a barrel — its lowest level since February 2016. West Texas Intermediate dropped nearly 31% to $28.49 a barrel.

The slash in prices came as OPEC nations failed to find a deal for production cuts. The price cut has also generated fears of a potential oil price war.

What it means: Equities markets have plummeted dramatically between the bottoming out of oil and Treasurys — the benchmark 10-year Treasury yield fell to 0.31% — as well as states in the U.S. declaring states of emergency due to the coronavirus.

You can also expect a big drop in energy stocks due to the oil price cut.

Where things stand: It isn’t pretty this morning. As of 8 a.m., Dow Jones Industrial Average futures were down 4.8%. S&P 500 futures dropped 4.9% and Nasdaq futures were off 4.8%.

Stocks to Watch Today

Inovio Pharmaceuticals Inc. (Nasdaq: INO) — Last week, the company advanced its timeline for a coronavirus vaccine. As a result, shares of Inovio jumped 24.4% in early trading.

Diamondback Energy Inc. (Nasdaq: FANG) — Shares of the energy company fell 25% in premarket trading as it announced plans to trim its operations due to the drop in oil prices.

BP PLC (NYSE: BP) — One of the world’s largest oil and gas companies experienced a 19.8% drop in share price following news of Saudi Arabia’s price cut.

In the News

In a matter of days, trillions of dollars in value have been wiped away from markets.

Ed Yardeni, president of Yardeni Research told CNN Business that markets are experiencing a “garden variety” correction now.

He said valuations are coming down in anticipation of a hit to economic growth thanks to the spread of the coronavirus globally.

Over $26 Billion Wiped Off Cryptocurrency Market in 24 Hours

Stock markets aren’t the only ones suffering amid the recent oil price crash.

Cryptocurrencies have seen more than $26 billion cleared off market capitalization in roughly 24 hours.

Bitcoin, the largest cryptocurrency by value, dropped more than 10% in 24 hours as of early Monday morning. The sell-off came at the same time oil futures dropped to their lowest levels in four years.

FAA Poised to Require Wiring Fixes before 737 Max Jets Can Fly

If the Boeing Co. (NYSE: BA) hopes to have its 737 Max jets flying again, they’re going to have to fix electrical wiring in all 800 of the planes.

The Wall Street Journal reported sources briefed on deliberations between the company and the Federal Aviation Administration that concluded the current layout of the plane violates wiring-safety standards.

Production on the popular jet was halted due to faulty automated controls that brought two Max jets down, killing 346.

Other Morning Reads

How to Invest in Bonds — Another Way to Make Money (Money and Markets)

China’s Trip.com CEO and Chairman Slash Salaries to Zero (CNN Business)

6 Stocks to Buy and Hold for the Next Decade (Money and Markets)

Earnings Report

Here are the companies releasing earnings reports today:

BioXcel Therapeutics Inc. (Nasdaq: BTAI)

Franco Nevada Corp. (NYSE: FNV)

Manitex International Inc. (Nasdaq: MNTX)

Rand Capital Corp. (Nasdaq: RAND)

U.S. Auto Parts Network Inc. (Nasdaq: PRTS)

Check back each morning before the opening bell for stocks to watch today with the Wall Street Wake-Up, here on Money and Markets.