Buckle up: U.S. stock futures sink after wild day on Wall Street
Here we go again.
After a wild day of trading that saw a 1,000-point swing by the Dow, U.S. stock futures fell sharply Monday night.
Dow Jones Industrial Average futures
were down more than 300 points just before midnight Eastern, while S&P 500 futures
and Nasdaq-100 futures
sank as well.
In regular trading Monday, the Dow
gained 99.13 points, or 0.3%, to finish at 34,364.50, after being down by as much as 3.3% earlier in the day. The S&P 500
rose 12.19 points, or 0.3%, at 4,410.13, after sinking as much as 4% and briefly falling into correction territory. The Nasdaq
advanced 86.21 points, or 0.6%, at 13,855.13, after being down nearly 5% earlier in the day.
Read more: The S&P 500, Nasdaq just staged a turnaround for the ages, marking their largest comebacks since the 2008 financial crisis
The sharp selloff and surprise rally came amid market uncertainty stoked by rising inflation, disappointing earnings, anxiety about the Fed’s expected policy changes, fears of a Russian invasion of Ukraine and the ongoing COVID-19 pandemic.
Still, Dan Eye, chief investment officer at Fort Pitt Capital Group in Pittsburgh, told MarketWatch on Monday that the market is acting normally — it’s just that we’re not used to it after such a long bull market. “The volatility we’re seeing is normal. As the Fed pivots toward fighting inflation, we’re going to see an environment of more push-and-pull and drawdowns in the stock market than we’ve seen over the last two years,” he said.
Read: Is the market crashing? No. Here’s what’s happening to stocks, bonds as the Fed aims to end the days of easy money, analysts say
Tag:article_normal, C&E Exclusion Filter, commodity, Commodity/Financial Market News, Content Types, Derivative Securities, E-Mini Dow Continuous Contract, E-Mini Nasdaq 100 Index Continuous Contract, E-Mini S&P 500 Future Continuous Contract, Equity Markets, ES00, Factiva Filters, financial market news, Financial Services, investing, Investing/Securities, NQ00, securities, YM00