Equities on course for muted open on Wall Street as traders expressed worries over tightening monetary policy and heightened geopolitical tensions in Europe.
U.S. stock futures struggled for direction on Wednesday, ahead of another expected sharp rate rise by the Federal Reserve and after Russian President Vladimir Putin escalated his war against Ukraine.
How are stock index futures trading On Tuesday, the Dow Jones Industrial Average DJIA fell 313 points, or 1.01%, to 30706, the S&P 500 SPX declined 44 points, or 1.13%, to 3856, and the Nasdaq Composite COMP dropped 110 points, or 0.95%, to 11425. The Federal Reserve is expected to increase interest rates by 75 basis points to a target rate of 3.0% to 3.25% when it delivers it decision at 2 pm Eastern. The central bank has swiftly raised borrowing costs from zero earlier in the year as it strives to combat inflation that is currently 8.3%, near multi-decade highs.
The Fed’s expected move comes after the Swedish central bank on Tuesday delivered a more-hawkish-than-expected 100 basis point rate hike and before an expected rate rise from the Bank of England on Thursday.
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