U.S. stock futures fall on growing worries of economic downturn

U.S. stock index futures fell on Thursday on worries of rampant U.S. inflation, recession, a global economic downturn from aggressive interest-rate hikes by central banks, and risks of a potential contagion from a turmoil in UK markets.

Reuters:

The Dow and S&P 500 e-minis fell for the seventh time in eight sessions, while megacap growth names such as Amazon.com Inc, Apple Inc, Microsoft Corp, Meta Platforms Inc, and Tesla Inc lost between 0.9% and 2.1% in premarket trading.
The calm brought about by the Bank of England’s decision on Wednesday to buy long-dated government securities to stabilize the turmoil in the markets caused by the government’s new economic plan was short-lived.
Sterling fell and bond prices slid, with the selloff in British assets spilling over to even safe-haven U.S. Treasuries and top-rated German bonds. read more
Even though U.S. stocks ended sharply higher in previous session due to easing Treasury yields, they have been battered for a large part of the year as surging yields dented the appeal for stocks.
“The world is transitioning from a low interest rate environment to a high interest rate environment,” said Andrea Cicione, head of strategy at TS Lombard.

MacDailyNews Take: The era of free money is over.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.

The post U.S. stock futures fall on growing worries of economic downturn appeared first on MacDailyNews.