After sharp losses Friday, Wall Street is poised for more declines as stock-index futures slid Sunday night.
Dow Jones Industrial Average futures
were last down more than 250 points, while S&P 500 futures
and Nasdaq-100 futures
were also sinking.
Wall Street is bracing for a busy earnings week, with quarterly reports due from Apple Inc.
Facebook parent Meta Platforms Inc.
Google parent Alphabet Inc.
and Microsoft Corp.
among others. Investors will also keep an eye on Twitter Inc.
which reports earnings Thursday and on Sunday was reported to be re-evaluating Elon Musk’s takeover bid.
On Friday, the Dow
shed about 981 points, or 2.8%, marking its worst daily percentage drop since Oct. 28, 2020, according to Dow Jones Market data. The S&P 500 index
slid 2.8% and the Nasdaq Composite Index
For the week, the Dow was down 1.9%, the S&P 500 fell 2.8% and the Nasdaq dropped 3.8%, according to FactSet.
Fed Chairman Jerome Powell added to the worries of jittery investors Thursday by signaling support for a larger, 50-basis-point rate hike at the Fed’s May meeting.