Dow futures lose 200 points, adding to the steep decline from the previous week

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Last Updated on August 29, 2022 by Bitfinsider

Monday saw a decline in stock futures as concerns about increasing rates and a stricter monetary policy fed a downturn that started the previous session.

The Dow Jones Industrial Average’s futures dropped 208 points, or around 0.6%. S&P 500 and Nasdaq 100 indexes saw declines of 0.7% and 0.8%, respectively.

When Federal Reserve Chairman Jerome Powell’s brief and direct statements in Jackson Hole, Wyoming, appeared to put an end to hopes that the central bank would change its aggressive course of rate hikes in the months to come, Wall Street experienced a significant sell-off on Friday.

The Dow experienced its lowest day since May as it dropped 1,008 points, or little over 3%. The S&P 500 and Nasdaq Composite saw their worst days since June, falling 3.4% and 3.9%, respectively. For all three averages, the decline eliminated the gains from August.

Over the weekend in Europe, board member of the European Central Bank Isabel Schnabel issued a warning that central banks must continue to battle inflation, even if doing so causes economies to enter a recession.

More Fed speeches are scheduled for the upcoming week, including Vice Chair Lael Brainard’s on Tuesday before the release of the August nonfarm payrolls report on Friday.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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