- U.S. stock index futures slipped on Wednesday, as megacap stocks were pressured by rising Treasury yields on concerns around the timing of the Federal Reserve's interest rate cuts.
The CBOE Volatility Index, a Wall Street fear gauge, also jumped to more than a three-week high of 14.11 points.The tech-heavy Nasdaq on Tuesday closed above the 17,000 mark for the first time, driven by gains in Nvidia and fellow chip stocks, while the benchmark S&P 500 index ended flat with market participants doubting the possibility of an imminent start to Fed's monetary policy easing cycle.
Markets will also closely monitor comments from this year's voting policymakers, including New York President John Williams and Raphael Bostic through the day. Quarterly results from Abercrombie & Fitch and DICK'S Sporting Goods are also due before the bell, while those from HP Inc, Agilent Technologies and Salesforce are expected after close.
Stocks held by ARK Invest's flagship innovation fund have seen huge losses. Here are the fund's 10 biggest losers.
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