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Wall Street Futures Sink as Fed Rate-Cut Hopes Fade
U.S. stock futures tumbled Friday, extending the market’s steepest sell-off in over a month as investors reassessed the likelihood of a Federal Reserve rate cut in December. Dow Jones futures slipped about 0.6%, S&P 500 futures fell nearly 1%, and Nasdaq 100 futures dropped more than 1.2%.
The downturn follows Thursday’s bruising session, where all three major indexes logged their sharpest one-day declines in weeks. Tech stocks led the retreat, with Tesla sliding 4% in premarket trading and Nvidia down another 3%. Concerns over lofty valuations in artificial intelligence and Big Tech have fueled a shift toward safer sectors.
Investor sentiment has soured as Fed officials adopt a more hawkish tone, signaling caution on policy easing. Traders now see less than a 50% chance of a quarter-point rate cut next month, a sharp drop from expectations earlier this fall.
The gloomy outlook underscores the fragile balance between hopes for monetary relief and fears of persistent inflation. With Wall Street bracing for more volatility, analysts warn that the coming weeks could test investor confidence across equities, particularly in high-growth sectors.
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