U.S. Futures Slide Amid Inflation Concerns, Fed Meeting Expectations
2022.06.13 10:37
By Scott Kanowsky
Investing.com — U.S. futures slipped early Monday after major indices on Wall Street posted their worst week since January.
As of 0253 EST (0653 GMT), Dow futures were lower by 1.31%, S&P 500 futures contracted by 1.71%, and tech-heavy Nasdaq 100 Futures were down 2.15%.
The indices fell last week as concerns over soaring prices mounted following the release of the latest U.S. inflation reading. May’s U.S. consumer price index came in at 8.6% – the highest reading since 1981.
The Federal Reserve is scheduled to meet this week, with policymakers expected to raise interest rates by a half-percentage point in a bid to tame inflation. But fears remain that the Fed will act aggressively and potentially plunge the economy into a recession.
Meanwhile, the 2-year U.S. treasury yield rose to its highest level since late 2007. The benchmark U.S. 10-year yield also moved higher, adding on to gains made on Friday.
