(Reuters) – The U.S. stock market futures fell, concerns about a slowdown in the economic recovery and a possible reduction in monetary stimulus were largely linked to economic cycles, with the Dow and S&P 500 heading into the worst week on average. June.
Oil companies Chevron Corp and ExxonMobil Corp each fell 0.8% following a sharp loss in oil prices, while shares of major Wall Street banks retreated nearly 0.6%.
The S&P 500’s energy sector fell about 7.6 percent this week, the biggest drop in S & P’s top 11 sectors.
Global stocks lagged behind as US stocks fell from record highs this week as China’s negative economic data added to concerns about the outlook for the US stimulus.
The minutes of the Federal Reserve’s latest monetary policy meeting are expected to cut the central bank’s monthly emergency purchases of $ 120 billion to the treasury and mortgage support securities.
Any reading of the US Federal Reserve’s next steps is now the focus of the Fed’s Annual Conference next week in Jackson Hole, Wyoming.
The S&P 500’s e-minus was down 0.43%, while the S&P 500 was down 0.43% and the Nasdaq was down 0.27%.
During the week, the Dow and S&P 500 were already down 1.7% and 1.4%, respectively, while the Nasdaq was down 1.9%, the worst performance since mid-May.
(Bor Devik Jain E Mehta Singh M Bangalore)
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