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US Futures, European Bonds Drop on Economic Woes: Markets Wrap

  • Traders caught between recession threat and inflation worries
  • European stocks end three-day slide amid dip-buying interest
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WATCH: “Recession isn’t our base case,” says Goldman Sachs macro strategist Gurpreet Gill.Source: Bloomberg
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US equity-index futures and European bonds fell as investors worried about the twin threats of dwindling economic growth and stubborn inflation. 

Contracts on the S&P 500 and Nasdaq 100 dropped at least 0.3% each after the underlying indexes capped their 11th decline in 13 weeks. European stocks rose for the first time in four days as dip-buyers emerged. The dollar erased its losses. Italian bonds tumbled with investors watching domestic political tensions. US markets were closed for Independence Day holiday.