European stocks set to pull back after Wall Street sell-off
LONDON — European markets are expected to pull back slightly on Friday, tracking global caution after Wall Street posted its worst day since 2020.
The Dow Jones Industrial Average plunged more than 1,000 points and the Nasdaq Composite fell nearly 5% on Thursday, erasing Wednesday’s rally. Initial relief over the Federal Reserve‘s ruling out of more aggressive hikes seemingly gave way once again to fears that a sharp hiking cycle in order to rein in red-hot inflation could harm economic growth.
U.S. stock futures were little changed in early premarket trade on Friday ahead of the closely watched April jobs report.
Investors are also monitoring Russia’s progress in eastern and southern Ukraine as its forces appear to have escalated assaults in the regions.
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