Stock futures traded lower Thursday, building on the losses from the previous session, as rate and recession fears dented market sentiment.
Futures tied to the Dow Jones Industrial Average fell 277 points, or 0.8%. S&P 500 futures and Nasdaq 100 futures shed 0.8% and 1%, respectively.
Wall Street is coming off a losing session. The S&P 500 tumbled 1.56% on Wednesday for its worst day since Dec. 15. The Dow shed more than 613 points, or 1.81%. The tech-heavy Nasdaq Composite fell 1.24%, snapping seven-straight days of gains. Bank stocks such as JPMorgan, Bank of America and Wells Fargo slid, weighing on the broader market.
Disappointing retail sales and a weaker-than-expected producer price index reading ignited recession fears, sending stocks lower.
On Thursday, investors will weigh more economic data that could give further clues as how much the Fed may raise interest rates in its…
