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Stock futures fall into early September as worries about rising interest rates hit the market

Stock futures fall at the beginning of September

US stock futures fell on Thursday, the first day of September, as traders remained concerned about the potential for higher Federal Reserve interest rates.

Dow Jones Industrial Average futures fell 143 points, or 0.4%. S&P 500 and Nasdaq 100 futures were down 0.4% and 0.7%, respectively.

The moves came as the 2-year US Treasury yield rose to 3.516% at one point on Thursday, its highest level since November 2007.

Nvidia shares also contributed to the losses, falling more than 5% in premarket trading after the chipmaker said the US government was restricting some sales in China.

The key averages come from four consecutive losing days. On Wednesday, the last day of August, the Dow slipped almost 0.9%. The S&P 500 lost about 0.8% and the Nasdaq Composite fell about 0.6%.

The Dow ended the month down about 4.1%, while the S&P and Nasdaq were down 4.2% and 4.6%, respectively.

Investors are debating whether stocks will challenge June lows again in September, a historically bad month for markets, after weighing recent hawkish comments from Fed officials who show no signs of easing rate hikes.

“If we retest the lows, I think it’s going to happen in September,” SoFi’s Liz Young said on CNBC’s Closing Bell: Overtime on Wednesday. However, she added, “I think for that to happen, something would have to get significantly worse than it was on June 16th” when stocks bottomed, such as when stocks bottomed out. B. Earnings revisions that are worse than investors expected.

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