Stock futures pointed to more losses for Wall Street on Friday in what will be the worst week of August slumber for major indices.
Futures on the Dow Jones Industrial Average (^DJI) fell about 0.4%, while those linked to the S&P 500 (^GSPC) fell about the same. The tech-heavy Nasdaq Composite (^IXIC) was poised to open about 0.8% lower after three consecutive days of heavy losses.
Meanwhile, 10-year Treasury yields (^TNX) fell slightly Friday morning, but remained close to recent highs.
The moves come as investors consider the prospect that interest rates could remain high for longer, after the Federal Reserve showed in minutes this week that the central bank is not ruling out further hikes. The next clue to the Fed’s next move will come from Chairman Jay Powell, who will address the annual Jackson Hole Economic Policy Symposium this Friday.
Investors also thought of continued economic woes in China as embattled real estate developer Evergrande filed for bankruptcy in the US court.