Risk appetite also hit by lingering concerns over the impact of the latest ructions in crypto.
U.S. stock futures steadied Thursday following the latest sell-off as traders paused for breath ahead of crucial inflation data.
What’s driving markets Index futures were a touch firmer but sentiment was fragile as investors warily eyed looming crucial inflation data that may determine the future pace of Federal Reserve interest rate hikes. “This is one of the most important variables for the Fed as they consider whether to slow down their pace of rate hikes next month, although it’s worth bearing in mind that there’s still another CPI report after this one before their next meeting,” Allen added.
Consequently, the prospect of either a benign or harmful inflation report causing large market moves is expected by many traders.
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