Stock futures moved lower on Thursday, adding to their losses from the previous session as market gloom was exacerbated by concerns about rates and the impending recession.
The Dow Jones Industrial Average futures dropped 224 points, or 0.7%. Futures for the S&P 500 and Nasdaq 100 declined by 0.7% and 0.9%, respectively.
Wall Street recently experienced a losing session. The S&P 500 saw its lowest day since December 15 on Wednesday, falling 1.56%. More than 613 points, or 1.81%, were lost by the Dow. With a 1.24% decline, the tech-heavy Nasdaq Composite ended seven days of advances. The market as a whole was hampered by the decline in bank equities including JPMorgan, Bank of America, and Wells Fargo.
Stock prices fell as a result of disappointing retail sales and a lower-than-anticipated figure on the producer price index, which sparked recession fears.
Thursday will see investors.
Source (CNBC)