U.S. stocks faced renewed selling pressure Monday, after suffering their biggest single-session declines in more than a year on Friday.
Dow Jones Industrial Average futures were down nearly 100 points, as bond yields continued to climb, dulling the appeal of equities for traders.
The global stock selloff was picking up steam Monday, as European stocks opened sharply lower. In Asia, selling was widespread, with Japanese stocks suffering their biggest decline since November 2016.
In volatile action, Dow Jones Industrial Average futures slipped around 89 points, or 0.3%, to 25,339, while S&P 500 futures dropped 5.45 points, or 0.2%, to 2,751.50. Nasdaq-100 futures slipped 8 points, or 0.1%, to 6,748.50.
A stronger-than-expected U.S. monthly jobs report took a heavy toll on stocks Friday. In the biggest one-day drop since September 2016, the S&P 500 index closed down 2.1% at 2,762.13. The Dow Jones Industrial Average tumbled 665.75 points, or 2.5%, to end at 25,520. Those two indexes suffered their biggest weekly declines in more than two years.
The Nasdaq Composite Index slid 144.92 points, or 2%, to end at 7,240.95. Its weekly loss was the largest in about two years.
Source : marketwatch