$Stock*Shop*Charts*News*Option$

[Tuff-Stuff]

U.S. Futures struggle for traction after latest Fed-inspired shellacking
4:56 am ET

U.S. stock futures struggled to make headway Thursday as traders absorbed the fallout from the latest Federal Reserve interest-rate decision.

How are stock-index futures trading

S&P 500 futures ES00, -0.16% dipped 4 points, or 0.1%, to 3764
Dow Jones Industrial Average futures YM00, -0.10% fell 26 points, or 0.1%, to 32152
Nasdaq 100 futures NQ00, -0.26% eased 16 points, or 0.1%, to 10928

On Wednesday, the Dow Jones Industrial Average DJIA, -1.55% fell 505 points, or 1.55%, to 32148, the S&P 500 SPX, -2.50% declined 96 points, or 2.5%, to 3760, and the Nasdaq Composite NQ00, -0.26% dropped 366 points, or 3.36%, to 10525. The Nasdaq Composite fell for a third consecutive session, taking its loss over that time to 5.2%, and its decline so far in 2022 to 32.7%.

What’s driving markets
Stock indices were striving to stabilize on Thursday after yet another very choppy session in the wake of the Federal Reserve’s latest policy announcement.

The Fed on Wednesday delivered the expected 75 basis point interest rate hike to a range of 3.75% to 4%, but subsequent comments from Chair Jerome Powell dashed hopes that the central bank would soon pause increasing borrowing costs.

The S&P 500 turned a 1% gain into a 2.5% loss after Powell suggested that with inflation showing few signs of sliding notably from near 40-year highs, the Fed may reduce the speed of rate hikes but may extend the journey. It was the worst
performance for a "Fed Day" since 2021, Bloomberg said.

charts
https://www.marketwatch.com/story/u-s-futures-struggle-for-traction-after-latest-fed-inspired-shellacking-11667465786?mod=newsviewer_click