U.S. stock futures unable to bounce after nearly 700-point plunge in Dow industrials

U.S. stock futures on Wednesday were struggling to rally after the latest selloff that sent the Dow industrials down by nearly 700 points.

How are stock-index futures trading On Tuesday, the Dow Jones Industrial Average DJIA fell 697 points, or 2.06%, to 33130, the S&P 500 SPX declined 82 points, or 2%, to 3997, and the Nasdaq Composite COMP dropped 295 points, or 2.5%, to 11492. However, recent data has shown the U.S. economy remains resilient in the face of the Fed’s sharp tightening of monetary policy, and this has pushed bond yields higher in anticipation of further Fed hawkishness.

“High hopes that the Federal Reserve could cut rates by the end of the year have been dashed, replaced by worries that up to three hikes in quick succession may be needed to tame the price spiral,” Streeter added.

MaryIHughes The long, slow ride to the bottom is here.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dow Industrials Drop Nearly 700 Points on Interest-Rate ConcernsThe Dow industrials fell nearly 700 points Tuesday on growing concerns that the Fed will keep interest rates higher for longer These concerns are based on multiple, repeated statements from the Fed chairman that he was planning on raising rates higher and keeping them there longer. For some reason many investors thought he was being sarcastic. The trouble with Capitalism is sooner or later you run out of working people's money and slave labor.
Source: WSJ - 🏆 98. / 63 Read more »