Traders Buckle In as Overnight Bounce in Stock Futures Goes Poof
- Outgoing Fed Chair Yellen sees valuations on the high side
- ‘A departure from the frequent overnight ramps’ of bull market
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An overnight rebound in equities evaporated and investors were wondering how deep the selloff in equities will get.
U.S. stock indexes resumed their decline after a seven-hour bounce. Concern keeps swirling over encroaching inflation and surging bond yields that last week sent major benchmarks to their worst week in two years. The S&P 500 Index fell 0.8 percent as of 9:48 a.m. in New York. The Nasdaq 100 Index slipped 0.7 percent and Dow Jones Industrial Average slid 1 percent.