Dow futures drop more than 300 points as sales accelerate after Fed minutes – .

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Dow futures drop more than 300 points as sales accelerate after Fed minutes – .


U.S. equity futures collapsed on Thursday, a day after minutes from the Federal Reserve’s rate-setting committee indicated that its bond-buying program was at its end.

What is happening

* Futures sur le Dow Jones Industrial Average YM00,
-0,67 %
lost 327 points;

* Futures on the S&P 500 ES00,
-0.60%

lost 0.9%;

* Futures on the Nasdaq 100 NQ00,
-0,45%
down 0.8%.

On Wednesday, US stocks suffered their worst session in a month. The Dow DJIA,
-1,08 %
a perdu 382 points, le S&P 500 SPX,
-1,07 %
lost 1.1% and the Nasdaq Composite COMP,
-0,89 %
fell 0.9%.

What drives the markets

Investors continued to be rocked by the release of the Fed minutes, even though its message – that the cut will begin this year – was well choreographed in speeches and articles quoting insiders ahead of the release.

“While the formula provided could in principle be consistent with a cutback decision in September (especially given the strong July employment report released after the FOMC meeting), the overall tone of the debate – including multiple references to the delta variant – seems more consistent. with a more methodical approach in which the Fed gives a clear signal in September that a decision to type is coming in November. It was and remains our call, ”said economists from Evercore ISI.

Also noteworthy is a UK study, from the University of Oxford based on real world data, which showed decreased efficacy of coronavirus vaccines to the delta variant. After four to five months, the study found that two doses of Pfizer’s PFE vaccine,
-2,20 %
and BioNTech BNTX,
-0,62 %
was as efficient as two Oxford-AstraZeneca AZNs,
+0.15%
blows.

Robinhood Markets HOOD,
+6.71%
was expected to decline after the online broker’s cautious outlook for the third quarter.

Other markets

The sale was particularly intense in Europe, where miners plunged nearly 5% to send the Stoxx Europe 600 SXXP,
-1.90%
down 2%.

The 10-year Treasury yield TMUBMUSD10Y,
1,232 %
fell to 1.22%.

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