Dow futures slide nearly 300 points as market worries mount

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U.S. stock-index futures fell Sunday night, pursuing a losing week connected Wall Street amid worries astir Fed argumentation and the fast-spreading omicron variant of COVID-19.

Dow Jones Industrial Average futures YM00, -0.71% slid astir 280 points, oregon 0.8%, arsenic of 11 p.m. Eastern connected Sunday. S&P 500 futures ES00, -0.87% were down 1%, oregon 45 points, portion Nasdaq-100 futures NQ00, -0.98% slid 1.1%, oregon 173 points. Oil prices besides sank, with front-month West Texas intermediate crude CL.1, -2.95% falling astir $2 a tube Sunday night, and Brent crude BRN00, -2.63%, the planetary benchmark, likewise off.

The Dow DJIA, -1.48% dropped much than 500 points, oregon 1.5%, connected Friday, and the S&P 500 SPX, -1.03% and Nasdaq Composite COMP, -0.07% pursuing it lower. For the week, the Dow mislaid 1.7%, the S&P 500 dropped 1.9% and the Nasdaq tumbled 3%.

Last week’s losses came arsenic investors weighed the U.S. Federal Reserve’s hawkish pivot, speeding up its simplification of monthly enslaved purchases and predicting 3 interest-rate hikes adjacent year.

On Sunday, President Joe Biden’s signature $2 trillion spending program appeared doomed arsenic Sen. Joe Manchin, D-W.Va., said helium cannot enactment it — perchance handing Biden and Democrats a large governmental loss.

Meanwhile, caller COVID-19 cases are increasing sharply successful galore parts of the world, fueled by the accelerated dispersed of omicron. Dr. Anthony Fauci said Sunday that helium expects grounds cases of COVID-19 this winter, and urged radical to get vaccinated and get boosters.

Wall Street has a shortened week coming up, with markets closed Friday for the Christmas holiday.

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