U.S. stock futures plunged after a bad week on Wall Street since January

The U.S. stock-index futures fell on Sunday after a bad week on Wall Street since January.

Dow Jones Industrial Average Futures YM00,
-1.09%
The S&P 500 Futures ES00, meanwhile, fell about 300 points, or 1%, as of midnight Eastern.
-1.45%
And Nasdaq-100 Future NQ00,
-1.93%
Recorded even steeper slopes.

The prices of Bitcoin and other cryptocurrencies also fell over the weekendWith Bitcoin BTCUSD,
-6.85%
Below $ 26,000, it fell to an 18-month low of more than 60% last November. Crude price CL.1,
-1.51%
Sunday also sank.

Further: Celsius, a crypto lender, suspends withdrawals amid ‘high market conditions’

Stock markets fell sharply on Friday. Dow DJIA,
-2.73%
Ended 880 points, or 2.7% lower at 31,392.79; S&P 500 SPX,
-2.91%
Ended at 3,900.86, down 116.96 points or 2.9%; And Nasdaq Joint COMP,
-3.52%
It ended at 11,340.02, down 414.20 points or 3.5%.

During the week, the Dow fell 4.6%, the S&P 500 dove 5.1% and the Nasdaq 5.6%. This is the biggest weekly loss since January for all three key benchmarks, according to Dow Jones market data.

Step: Stocks plunge again as hot inflation triggers market shockwaves: What investors need to know

Markets plummeted following renewed inflation concerns as a new report showed warmer-than-expected measurements. Consumer price inflation rose to 1% in May on Friday, higher than the 0.7% monthly forecast forecast by economists surveyed by the Wall Street Journal. The year-over-year rate rose 8.6% to 8.5%, the 40-year high seen in March.

The Federal Reserve has set policy dividers Meet this weekAnd interest rates are expected to rise by 50 basis points, although some economists said after the CPI report on Friday, There may be support for a more serious 75-point-point hike.

See also: ‘FOMC has no pigeons now’: Economists anticipate hawk federal meeting this week

“The U.S. CBI risk for May was a nightmare for markets,” Stephen Innes, managing partner of SPI Asset Management, wrote in a note on Sunday. “The market is now thinking more and more that the central bank’s driving rates should rise sharply and slow down as growth slows to get above inflation.

It leaves traders and investors wondering “how tight central banks’ can deliver, so how much more can be reaped from here. We all know that nothing good will happen when interest rate fluctuations in the capital markets increase,” he said.

Leave a Reply

Your email address will not be published.