After a wild week on Wall Street, stock futures slump Sunday

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After a volatile week, Wall Street is bracing for much losses arsenic U.S. stock-index futures fell sharply precocious Sunday.

Dow Jones Industrial Average futures YM00, -1.03% were past down much than 300 points, portion S&P 500 futures ES00, -1.06% and Nasdaq-100 futures NQ00, -1.02% were each disconnected astir 1%.

Cryptocurrencies fell implicit the play arsenic well, with bitcoin BTCUSD, -1.56% dropping beneath the $35,000 level, down astir fractional from its grounds precocious acceptable successful November.

Stocks slumped to extremity the week aft Fed Chairman Jerome Powell said the cardinal slope was not considering a 75-basis-point complaint hike, starring immoderate to question whether the Fed is doing capable to power inflation. The Dow tumbled much than 1,000 points Thursday, marking its worst time successful 5 years, a time aft jumping 900 points for its champion time since 2020.

Read: Will Fed spell excessively far? Dow’s convulsive swings enactment investors connected lookout for recession signals

On Friday, the Dow DJIA, -0.30%  fell 98.60 points, oregon 0.3%, to adjacent astatine 32,899.37, portion the S&P 500 SPX, -0.57%  dropped 23.53 points, oregon 0.6%, to decorativeness astatine 4,123.34, and the Nasdaq Composite COMP, -1.40%  shed 173.03 points, oregon 1.4%, to extremity astatine 12,144.66.

For the week, the Dow and S&P 500 each slipped 0.2% portion the technology-heavy Nasdaq fell 1.5%. Both the Nasdaq and S&P 500 fell for a 5th consecutive week, portion the Dow dropped for a sixth consecutive week, according to Dow Jones Market Data.

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