{"id":488679,"date":"2022-08-29T15:32:00","date_gmt":"2022-08-29T12:32:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/"},"modified":"2022-08-29T15:32:00","modified_gmt":"2022-08-29T12:32:00","slug":"market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/","title":{"rendered":"#Market Snapshot: Dow futures drop 240 points as stocks selloff looks set to continue"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a22fe0be7a05\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a22fe0be7a05\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/#%E2%80%9CMarket_Snapshot_Dow_futures_drop_240_points_as_stocks_selloff_looks_set_to_continue%E2%80%9D\" >&#8220;Market Snapshot: Dow futures drop 240 points as stocks selloff looks set to continue&#8221;<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/#Whats_happening\" >What\u2019s happening<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/#Whats_driving_markets\" >What\u2019s driving markets?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/#Companies_in_focus\" >Companies in focus<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/#Other_assets\" >Other assets<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/market-snapshot-dow-futures-drop-240-points-as-stocks-selloff-looks-set-to-continue\/#Barbara_Kollmeyer\" >Barbara Kollmeyer<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMarket_Snapshot_Dow_futures_drop_240_points_as_stocks_selloff_looks_set_to_continue%E2%80%9D\"><\/span>&#8220;Market Snapshot: Dow futures drop 240 points as stocks selloff looks set to continue&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap crawler\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001147146\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001147146\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       U.S. stock futures pointed to fresh losses for Wall Street on Monday as Federal Reserve Chairman Jerome Powell\u2019s hawkish commentary from Jackson Hole, Wyo. continued to reverberate. <\/p>\n<h6><span class=\"ez-toc-section\" id=\"Whats_happening\"><\/span>What\u2019s happening<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      S&amp;P 500 futures<br \/>\n        ES00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209948968\/delayed\" class=\"negative\">-0.83%<\/bg-quote><br \/>\n       slid 33 points, or 0.8%, to 4,026.50.<\/p>\n<\/li>\n<li>\n      Dow Jones Industrial Average futures<br \/>\n        YM00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210407078\/delayed\" class=\"negative\">-0.77%<\/bg-quote><br \/>\n       dropped 240 points, or 0.7%, to 32,021<\/p>\n<\/li>\n<li>\n      Nasdaq-100 futures<br \/>\n        NQ00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210219788\/delayed\" class=\"negative\">-0.99%<\/bg-quote><br \/>\n       fell 117 points, or 0.9%, to 12,504.<\/p>\n<\/li>\n<\/ul>\n<p>  Stocks recorded their worst day in months on Friday, when the Dow industrials<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"negative\">-3.03%<\/bg-quote><br \/>\n       tumbled 1,008.38 points, or 3%, to close at 32,283.40, its biggest percentage decline since May 18. The S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-3.37%<\/bg-quote><br \/>\n       slid 3.4% to 4,057.66, its biggest drop since June 13, and the Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"negative\">-3.94%<\/bg-quote><br \/>\n       tumbled 3.9%, to close at 12,141.71, the largest drop since June 16. <\/p>\n<div class=\"paywall\">\n<h6><span class=\"ez-toc-section\" id=\"Whats_driving_markets\"><\/span>What\u2019s driving markets? <span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p> Both bonds and stocks <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to have been shaken by Powell, who made blunt comments about the central bank\u2019s commitment to bringing down high inflation on Friday during a speech at the Kansas City Fed\u2019s annual symposium at Jackson Hole, Wyo. <\/p>\n<p>Powell said the Fed would continue the fight even if it means pain for American families and businesses. His comments seemed to and dash hopes for a pivot toward less aggressive rate hikes. <\/p>\n<p><strong>Read: <\/strong>Stock futures plunge Sunday evening as investors react to Fed comments<\/p>\n<p>\u201cReducing inflation is likely to require a sustained period of below-trend growth,\u201d\u00a0Powell said. \u201cWhile higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses.\u201d<\/p>\n<p>Powell also mentioned a resilient jobs market, suggesting that he is willing to allow unemployment to climb, noted Ipek Ozkardeskaya, senior analyst at Swissquote Bank, in a note to clients. <\/p>\n<p>That means another strong print on the state of jobs growth in August could help strengthen the Fed\u2019s resolve. <\/p>\n<p>\u201cDue Friday, the NFP data is expected to print another month close to 300,000 new nonfarm job additions in the U.S. Over the past four months, the data clearly exceeded the market expectations, especially last month, the number printed was above half-a-million new job additions, versus around 250,000 expected by analysts,\u201d said Ozkardeskaya. <\/p>\n<p>Even if the data were to come in short of economists\u2019 expectations, investors shouldn\u2019t expect to see any change in the Fed\u2019s outlook. Instead, \u201cfrom now on, we expect to see a deeper downside correction in equities, and further retracement of the summer rally.\u201d<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>As the selloff in bonds gathered pace, the 2-year Treasury<br \/>\n        TMUBMUSD02Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">3.429%<\/bg-quote><br \/>\n       yield climbed 5 basis points to 3.453%, a level not seen since November 2007. <\/p>\n<h6><span class=\"ez-toc-section\" id=\"Companies_in_focus\"><\/span>Companies in focus<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      <strong>Tesla Inc.<\/strong><br \/>\n        TSLA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/203558040\/lastsale\" class=\"negative\">-2.70%<\/bg-quote><br \/>\n       Chief Executive Elon Musk said Monday he is aiming to get the electric-vehicle maker\u2019s self-driving <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> ready by year-end, and said he hopes it could quickly be in wide release in the U.S. and even Europe depending on regulatory approval, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/elon-musk-says-world-still-needs-oil-gas-2022-08-29\/\" class=\"icon none\">Reuters reported.<\/a> Shares were down 2% in premarket trade.<\/p>\n<\/li>\n<\/ul>\n<h6><span class=\"ez-toc-section\" id=\"Other_assets\"><\/span>Other assets<span class=\"ez-toc-section-end\"><\/span><\/h6>\n<ul class=\"articleList\">\n<li>\n      The Fed\u2019s hawkish tone boosted the dollar, with the ICE U.S. Dollar Index <a rel=\"nofollow noopener\" target=\"_blank\" href=\"#phrase-company?ref=COMPANY%7CDXY;onlineSignificance=passing-mention\" class=\"icon none\">DXY<\/a> up 0.2% to 109.03 while also briefly topping 139 yen <a rel=\"nofollow noopener\" target=\"_blank\" href=\"#phrase-company?ref=COMPANY%7CUSDJPY;onlineSignificance=prominent\" class=\"icon none\">USDJPY<\/a>, just shy of the highest level against the Japanese currency in 24 years.<\/p>\n<\/li>\n<li>\n      Oil futures moved higher, with the U.S. benchmark<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"positive\">+1.14%<\/bg-quote><br \/>\n       up 0.5% near $93.60 a barrel, while gold<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.11%<\/bg-quote><br \/>\n       fell 0.4% to trade near $1,743 an ounce.<\/p>\n<\/li>\n<li>\n      Bitcoin<br \/>\n        BTCUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/31322028\/realtime\" class=\"negative\">-0.43%<\/bg-quote><br \/>\n       rose 1.3% to trade near $19,900.<\/p>\n<\/li>\n<li>\n      The Stoxx Europe 600<br \/>\n        SXXP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599654\/delayed\" class=\"negative\">-0.98%<\/bg-quote><br \/>\n       was down 1%, while London markets were closed for the summer bank holiday.<\/p>\n<\/li>\n<li>\n      The Shanghai Composite<br \/>\n        SHCOMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598127\/delayed\" class=\"positive\">+0.14%<\/bg-quote><br \/>\n       ended 0.1% higher, while the Hang Seng Index<br \/>\n        HSI,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598030\/delayed\" class=\"negative\">-0.73%<\/bg-quote><br \/>\n       fell 0.7% in Hong Kong and Japan\u2019s Nikkei 225<br \/>\n        NIK,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210597971\/delayed\" class=\"negative\">-2.66%<\/bg-quote><br \/>\n       dropped 2.7%.<\/p>\n<\/li>\n<\/ul>\n<p><strong><em>Hear from Carl Icahn at the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/moneyfestival.marketwatch.com\/?mod=article_inline\" class=\"icon none\">Best New Ideas in Money Festival<\/a> on Sept. 21 and Sept. 22 in New York. The legendary trader will reveal his view on this year\u2019s wild market ride.<\/em><\/strong><\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Barbara Kollmeyer\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/barbara-kollmeyer\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/bkollmeyer\",\"text\":\"@bkollmeyer\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:bkollmeyer@marketwatch.com\",\"text\":\"bkollmeyer@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Barbara_Kollmeyer\"><\/span>Barbara Kollmeyer<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"208_MW\" author-name=\"Barbara Kollmeyer\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fdow-futures-drop-nearly-300-points-as-stocks-selloff-looks-set-to-continue-11661770060%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C06575-04D4-B545-7118-10A9FDA9501C%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Market Snapshot: Dow futures drop 240 points as stocks selloff looks set to continue&#8221; U.S. stock futures pointed to fresh losses for Wall Street on Monday as Federal Reserve Chairman Jerome Powell\u2019s hawkish commentary from Jackson Hole, Wyo. continued to reverberate. What\u2019s happening S&amp;P 500 futures ES00, -0.83% slid 33 points, or 0.8%, to 4,026.50&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":488680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-612255\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-488679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=488679"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/488679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/488680"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=488679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=488679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=488679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}