US Stock Futures Plummet as Stagflation Concerns Hike

On Monday, US stock futures plummeted as concerns about slowing economic growth and increasing inflation hiked. 

Accordingly, the Dow futures edged down 0.20% or 72.00 points to $34,100.00 per share.

At the same time, contracts in the Nasdaq lowered 0.38% or 58.25 points to $14,702.50 per share. 

Similarly, the S&P futures weakened 0.24% or 10.50 points to $4,333.25 per share.

Last Friday, stocks on Wall Street rebounded from a rough September.

Moreover, the Dow Jones Industrial Average index extended 1.43% or 482.54 points to $34,326.46 per share. 

Then, the Nasdaq Composite index rose 0.82% or 118.12 points to $14,566.70 per share. 

Consequently, the benchmark S&P 500 improved 1.15% or 49.50 points to $4,357.04 per share. 

Correspondingly, most highly valued tech stocks revised their declines.

For instance, Apple Inc. improved 0.81% or 1.15 points to $142.65 per share from its previous decline of 0.93%. 

Then, Alphabet Inc. Class A elevated 2.14% or 57.30 points to $2,730.90 per share after its almost one-week plunge. 

Likewise, Facebook Inc. boosted 1.07% or 3.62 points to $343.01 per share.

On the other hand, Tesla Inc. opposed the trend as it edged down 0.10% or 0.74 points to $774.74 per share.

Meanwhile, investors are still on edge as supply shortages impede the global recovery. 

In addition, markets shifted to risk-off sentiment as China and the European energy crunch could set a ripple effect worldwide. 

Furthermore, China’s Evergrande woes persisted as the distressed developer grappled with financing its $302.00 billion worth of liabilities.

World Shares Mixed as US Stock Futures Slipped

Meanwhile, world shares mixed as US stock futures slipped. 

In Paris, the CAC 40 index inched up 0.09% or 5.80 points to $6,523.49 per share. 

Subsequently, London’s FTSE All-Share index escalated 0.02% or 0.96 points to $4,029.93 per share.

Also, Germany’s MDAX Performance index rose 0.01% or 4.67 points to $34,158.82 per share. 

Similarly, the DAX 40 index boosted 0.06% or 10.21 points to $15,166.65 per share. 

Japan’s Nikkei 225 index shed 1.13% or 326.18 points to $28,444.89 per share in the Asia-Pacific market.

Correspondingly, the broader benchmark TOPIX index declined 0.62% or 12.39 points to $1,973.92 per share.

In Hong Kong, the Hang Seng index plummeted 2.19% or 539.27 points to $24,036.37 per share. 

On the other hand, Australia’s S&P/ASX 200 index soared 1.29% or 93.00 points to $7,278.50 per share. 

In New Zealand, the S&P/NZX 50 index hiked 0.44% or 58.12 points to $13,337.27 per share. 

Read also: Fundiza review | Is Fundiza a Good Broker?