Stock futures dip following three straight days of losses on Wall Street

Stock futures dip following three straight days of losses on Wall Street

Stock futures fell slightly in overnight trading on Wednesday after major averages registered a third straight day of losses amid a drop in cryptocurrency prices. Futures on the Dow Jones Industrial Average dipped 60 points. S&P 500 futures and Nasdaq 100 futures both fell 0.2%. Shares of Cisco fell 5.5% in extended trading after the data center networking hardware maker issued weaker-than-expected for the current quarter. The moves in futures followed a roller-coaster session on Wall Street triggered by a sudden drop in bitcoin price, which led to a sharp sell-off in many speculative areas of the market. Cryptocurrency-linked shares, including , and , led the market decline as tanked as much as 30% Wednesday. The S&P 500 slid 1.6% at its session low in the previous session but recouped most of the losses to close down just 0.3% as the market stabilized and bitcoin bounced off its low. The blue-chip Dow finished the session about 160 points lower after plunging 580 points at one point. The tech-heavy Nasdaq Composite ended the day flat, erasing a 1.7% drop. "Crypto, after all, is the poster child for liquidity-induced speculation and the fact that this is now deflating ... lends credence to