U.S. stock futures fell to start the week, indicating that major equity indexes could decline again following last week’s big swings
Futures for the S&P 500 and the Dow Jones Industrial Average were down 1% in late Monday morning trading in Asia, while those for the technology-focused Nasdaq-100 were 0.8% lower.
“Yields are climbing because investors think inflation is out of control,” said Peter Andersen, founder of Boston-based investment firm Andersen Capital Management. Last Wednesday, U.S. bonds and stocks rallied after the Federal Reserve approved a half-percentage point increase in its benchmark lending rate to a target range of between 0.75% and 1%. Fed Chairman Jerome Powell said. Mr. Powell also said inflation was much too high and that the Fed would move expeditiously to bring it down. He pointed to a personal consumption expenditure price index, which rose 6.6% in March.
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