U.S. Futures Slide Amid Inflation Concerns, Fed Meeting Expectations By Investing.com


© Reuters.

By Scott Kanowsky 

Investing.com — U.S. futures slipped early Monday after major indices on Wall Street posted their worst week since January.

As of 0253 EST (0653 GMT), were lower by 1.31%, contracted by 1.71%, and tech-heavy were down 2.15%.

The indices fell last week as concerns over soaring prices mounted following the release of the latest U.S. inflation reading. May’s came in at 8.6% – the highest reading since 1981.

The is scheduled to meet this week, with by a half-percentage point in a bid to tame inflation. But fears remain that the Fed will act aggressively and potentially plunge the economy into a recession.

Meanwhile, the U.S. treasury yield rose to its highest level since late 2007. The benchmark U.S. yield also moved higher, adding on to gains made on Friday.

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