Market Snapshot: U.S. stock futures extend slide as inflation fears push benchmark U.S. Treasury yield further above 4%

by | Mar 2, 2023 | Stock Market

U.S. stock futures were lower on Thursday as the sight of benchmark borrowing costs above 4% soured sentiment.How are stock-index futures trading
S&P 500 futures
dipped 23 points, or 0.6%, to 3934

Dow Jones Industrial Average futures
rose 9 points, or less than 0.1%, to 32702

Nasdaq 100 futures
eased 98 points, or 0.8%, to 11864

On Wednesday, the Dow Jones Industrial Average
rose 5 points, or 0.02%, to 32662, the S&P 500
declined 19 points, or 0.47%, to 3951, and the Nasdaq Composite
dropped 76 points, or 0.66%, to 11379.

What’s driving markets Rising bond yields continued to weigh on equities. Recent data indicating that the Federal Reserve’s campaign of interest rate hikes is yet to significantly slow the U.S. economy and suppress inflation has pushed benchmark borrowing costs
back above 4% as traders bet the central bank will have to tighten policy further. The Fed is expected to increase interest rates by 25 basis points to a range of 4.75% to 5% at its March 22nd meeting. Since the central bank began raising borrowing costs from effectively zero about a year ago the S&P 500 has dipped more than 9%. Over the las …

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