{"id":120170,"date":"2021-08-20T12:53:41","date_gmt":"2021-08-20T12:53:41","guid":{"rendered":"https:\/\/fin2me.com\/?p=120170"},"modified":"2021-08-20T12:53:41","modified_gmt":"2021-08-20T12:53:41","slug":"sp-500-dow-on-track-for-worst-week-in-2-months-on-recovery-taper-fears","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/sp-500-dow-on-track-for-worst-week-in-2-months-on-recovery-taper-fears\/","title":{"rendered":"S&P 500, Dow on track for worst week in 2 months on recovery, taper fears"},"content":{"rendered":"

(Reuters) – U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked sectors and put the Dow and the S&P 500 on course for their worst week since mid-June.<\/p>

Signage hangs over the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 19, 2021. REUTERS\/Andrew Kelly<\/figcaption>

Oil majors Chevron Corp and Exxon Mobil Corp slipped 0.8% each, tracking steep losses in crude prices, while shares of major Wall Street banks dropped nearly 0.6% each in premarket trading. [O\/R]<\/p>\n

The S&P 500 energy sector is down about 7.6% this week, the most among all the 11 major S&P sectors.<\/p>\n

Industrial stocks, including Caterpillar Inc, Boeing Co, and 3M Co, which generally perform better at a time of strong economic growth, shed between 0.2% and 0.9%.<\/p>\n

Global equities took a backseat this week, with U.S. stocks slipping from record highs as downbeat economic data from China compounded concerns regarding the outlook for U.S. stimulus.<\/p>\n

Minutes from the Federal Reserve\u2019s last policy meeting showed officials largely expect to reduce the central bank\u2019s emergency monthly purchases of $120 billion of Treasury bonds and mortgage-backed securities later this year, amid a recovery in the jobs market.<\/p>\n

Focus is now on the Fed\u2019s annual research conference in Jackson Hole, Wyoming, next week for any read about the central bank\u2019s next steps.<\/p>\n

At 7:01 a.m. ET, Dow e-minis were down 148 points, or 0.43%, S&P 500 e-minis were down 19 points, or 0.43%, and Nasdaq 100 e-minis were down 40.75 points, or 0.27%.<\/p>\n

For the week, the blue-chip Dow and the benchmark S&P 500 are down about 1.7% and 1.4% respectively, while the tech-heavy Nasdaq has fallen 1.9%, its worst since mid-May.<\/p>\n

Amazon.com, Microsoft Corp, Google-owner Alphabet Inc, Facebook Inc, Apple Inc and Netflix Inc, which had led Wall Street\u2019s record rally from pandemic lows hit last year, slid between 0.2% and 0.7%.<\/p>\n

Deere & Co rose 1% after it beat Wall Street estimates for third-quarter revenue and lifted its full-year earnings forecast on strong demand for farm and construction equipment.<\/p>\n

The Invesco Golden Dragon China ETF was set for its eighth straight weekly loss – its longest losing streak in a decade – on concerns over China\u2019s widening crackdown on sectors ranging from technology to luxury goods makers. E-commerce giant Alibaba Holdings has lost about $76 billion of its market value in the past four days and is headed for its worst week ever.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked […]<\/p>\n","protected":false},"author":3,"featured_media":120169,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nS&P 500, Dow on track for worst week in 2 months on recovery, taper fears - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/sp-500-dow-on-track-for-worst-week-in-2-months-on-recovery-taper-fears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&P 500, Dow on track for worst week in 2 months on recovery, taper fears - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – U.S. stock index futures fell on Friday, as concerns over a slowing economic recovery and the possible tapering of monetary stimulus hurt economy-linked [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/sp-500-dow-on-track-for-worst-week-in-2-months-on-recovery-taper-fears\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-20T12:53:41+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/08\/SP-500-Dow-on-track-for-worst-week-in-2-months-on-recovery-taper-fears.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/sp-500-dow-on-track-for-worst-week-in-2-months-on-recovery-taper-fears\/\",\"url\":\"https:\/\/fin2me.com\/markets\/sp-500-dow-on-track-for-worst-week-in-2-months-on-recovery-taper-fears\/\",\"name\":\"S&P 500, Dow on track for worst week in 2 months on recovery, taper fears - 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