US stock futures fell on Monday after a He stopped at the summer rally last weekFears of rising interest rates have returned to Wall Street.
Dow Jones Industrial Average futures were down 321 points, or 0.95%. S&P 500 and Nasdaq 100 futures are down 1.22% and 1.57%, respectively.
come these moves European markets witnessed sharp declinesPartly driven by fears of rising inflation and higher interest rates around the world.
On Friday, the S&P 500 closed 1.29% lower. The Dow Jones Industrial Average was down 292 points, or 0.86%, and the Nasdaq Composite was down 2.01%. The major averages also posted weekly losses.
These moves come ahead of a volatile week of trading on Wall Street. Investors are anticipating Federal Reserve Chair Jerome Powell’s latest comments on inflation at the central bank’s annual Jackson Hole economic seminar.
“We have written several times recently about waiting and seeing trading ahead of major events/releases…and how that could pave the way for more volatility around the same events, and we may see a portion of that in the next week while investors wait for the symposium,” read a day’s note Friday from Christopher Jacobson of Susquehanna.
On the earnings front, traders expect Palo Alto Networks and Zoom Video to report results on Monday after the bell.
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