Business

Futures fall, putting S&P 500 on course to open near bear market


May 24, 2022 3:59 a.m. ET

U.S. stock futures fell, leaving the S&P 500 on track to close in a bear market, defined as a 20% drop from recent highs.

S&P 500 futures fell 1.4% and the Dow Jones Industrial Average fell 0.9%. Changes in equity futures do not necessarily predict moves after the opening bell.

European stocks fell on Tuesday. Stoxx Europe 600 is 0.8% lower in morning trading. The industrial and utility sectors led to losses while the real estate sector rose.

Airbus fell 2.1% and

Safran

down 2.8%.

Britain’s FTSE 100 fell 0.8%. Other stock indexes in Europe also mostly slid as France’s CAC 40 lost 1%, Britain’s FTSE 250 lost 1% and Germany’s DAX lost 0.9%.

The Swiss franc, euro and British pound gained 0.4%, 0.4% and 0.2% respectively against the US dollar.

In commodities, the international benchmark Brent oil price fell 0.9% to $112.35 a barrel. Gold rose 0.4% to $1,855.20 an ounce.

Germany’s 10-year gilt production was virtually unchanged and the UK’s 10-year gilt yield fell to 1.951%. The yield on the 10-year US Treasury note fell from 2.857% to 2.822%. Bond yields are inversely proportional to price.

Indexes in Asia mostly fell, with Hong Kong’s Hang Seng down 1.9%, Japan’s Nikkei 225 down 0.9% and China’s Shanghai Composite down 2.4%.

Traders worked on the floor of the New York Stock Exchange on Monday.


Photo:

Spencer Platt / Getty Images

An artificial intelligence tool was used to create this article.

Copyright © 2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8



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