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• S&P 500 futures drop by 0.33%
• Dow Jones futures decline by 0.27 %
• Nasdaq futures decrease 0.58 %
US stock futures tumbled early Wednesday as Wallstreet awaits minutes from the previous Fed meeting over policy tightening.
Dow Jones Industrial Average futures drop 0.27 % on Wednesday. The S&P 500 futures ticked down 0.33%, while the Nasdaq futures declined 0.58 %.
During the regular trading on Tuesday, Dow Jones Industrial Average fell 253 points, or 0.7%, to about 34,669. The S&P 500 dropped about 54 points, or 1.1%, to 4,528. The Nasdaq Composite slipped 326 points, or 2.2%, to 14,206.
Stocks fell on Tuesday after Federal Reserve Governor Lael Brainard expressed support for higher interest rates and said the central bank needs to shrink its balance sheet rapidly to drive down inflation.
“Inflation is much too high and is subject to upside risks,” Brainard said.
The 10-year Treasury note yield reached a high of 2.618 % at 5:22 am ET while the 30-year Treasury yield climbed 2.63%.
Picture Credits: MarketWatch