U.S. stock index futures were flat during overnight trading Sunday after the Nasdaq Composite Index posted its worst month since 2008, pressured by rising rates, rampant inflation, and underwhelming earnings from some of the largest technology companies.
Futures contracts tied to the Dow Jones Industrial Average slid 11 points. S&P 500 futures were flat, while Nasdaq 100 futures declined 0.2%.
The S&P 500 declined 3.63% on Friday, its worst day since June 2020, and posted its fourth-straight negative week for the first time since September 2020. The Nasdaq also posted a fourth-straight week of losses, after falling 4.2% on Friday. Both indexes registered their lowest closing levels of the year.
“This has become a classic trader’s market as spikes in volatility and increasingly bearish headlines reverberate,” said Quincy Krosby, chief equity strategist for LPL Financial.
