Stock futures fall after weak retail earnings affirm inflation fears
- Date: 19-May-2022
- Source: Yahoo News
- Sector:Retail
- Country:Middle East
Stock futures fall after weak retail earnings affirm inflation fears
U.S. stock futures edged lower ahead of the overnight session Wednesday after a weeks-long sell-off on Wall Street deepened in earlier trading as disappointing retail earnings reignited concerns about the impact of inflation.
Futures tied to the S&P 500 fell 0.5% following the index's worst decline since June 2020, as all but eight stocks in the benchmark closing in negative territory during Wednesday's session. Contracts on Dow futures erased 0.4% after the index logged a nearly 1,200-point drop on Wednesday to close at its lowest level since March 2021, and Nasdaq futures tumbled 0.8% after the tech-heavy benchmark plunged 4.7%.
These losses followed a bevy of weaker-than-expected quarterly results from big-box U.S. retailers that stoked investor fear about the toll inflationary pressures may take on corporate profits and consumer spending.