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US stock future slide after Wall Street digested a second day of gains and braced for the Federal Reserve’s next policy meeting.
Futures attached to the Dow Jones Industrial Average (YM=F) fell 0.2%, the benchmark S&P 500 (ES=F) slid 0.3%, and the tech-heavy Nasdaq Composite (NQ=F) slumped 0.5%.
CBOT – Delayed Quote USD
(YM=F)
As of 12:34:21 AM EDT. Market Open.
YM=F ES=F NQ=F
On Monday, stocks continued to recover from last week’s sell-off, which saw the S&P 500 enter correction territory amid concerns about the US economy’s ability to sustain President Donald Trump’s trade war.
Read more: The latest on Trump’s tariffs
Wall Street’s attention is now turning to the Federal Reserve’s two-day policy meeting, which kicks off on Tuesday. The central bank will announce its next monetary policy decision Wednesday.
Federal Reserve Chair Jerome Powell has said that the central bank will exercise caution when it comes to rate cuts and seek out more economic data. The Fed is largely expected to hold rates steady this week.
On Tuesday, the Commerce Department will also release data on housing starts for February.
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Gold holds at all-time high as data points towards US slowdown
Gold (GC=F) continues to hover around the $3000 all-time high. Haven demand continues to be pushed worldwide as market volatility rattles investors.
Bloomberg reports: