After $1.5 Trillion Wipeout, US Stocks Poised to Slide Further
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US stock index futures declined on Thursday, signaling a continuation to yesterday’s brutal selloff that erased $1.5 trillion in market value on concerns about slowing growth amid soaring inflation and tightening monetary policy.
Contracts on the S&P 500 were down 1.6% by 5:42 a.m. in New York. The underlying gauge tumbled 4% on Wednesday, the most since June 2020, as consumer shares plunged after Target Corp. trimmed its profit forecast due to a surge in costs. Nasdaq futures were 1.9% lower today.