U.S. stock futures sink, suggesting more losses Monday

U.S. stock futures sink, suggesting more losses Monday

After sharp losses Friday, Wall Street is poised for more declines as stock-index futures slid Sunday night.

Dow Jones Industrial Average futures
YM00,
-0.54%

were off about 160 points by midnight Eastern — an improvement from a more-than-200-point loss earlier in the session — while S&P 500 futures
ES00,
-0.50%

and Nasdaq-100 futures
NQ00,
-0.36%

were also down but improving from session lows.

Wall Street is bracing for a busy earnings week, with quarterly reports due from Apple Inc.
AAPL,
-2.78%
,
Facebook parent Meta Platforms Inc.
FB,
-2.11%
,
Google parent Alphabet Inc.
GOOGL,
-4.15%

GOOG,
-4.26%
,
Amazon.com Inc.
AMZN,
-2.66%

and Microsoft Corp.
MSFT,
-2.41%
,
among others. Investors will also keep an eye on Twitter Inc.
TWTR,
+3.93%
,
which reports earnings Thursday and on Sunday was reported to be re-evaluating Elon Musk’s takeover bid.

On Friday, the Dow
DJIA,
-2.82%

shed about 981 points, or 2.8%, marking its worst daily percentage drop since Oct. 28, 2020, according to Dow Jones Market data. The S&P 500 index
SPX,
-2.77%

 slid 2.8% and the Nasdaq Composite Index
COMP,
-2.55%

 tumbled 2.6%.

For the week, the Dow was down 1.9%, the S&P 500 fell 2.8% and the Nasdaq dropped 3.8%, according to FactSet.

Fed Chairman Jerome Powell added to the worries of jittery investors Thursday by signaling support for a larger, 50-basis-point rate hike at the Fed’s May meeting.

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