Tech Turbulence and Tariff Tensions: Wall Street's Rollercoaster Ride
U.S. stock index futures dipped amid a tech-led selloff, as investors focused on earnings from major retailers and potential tariff impacts. Target and Estee Lauder reported weak forecasts, while Lowe's showed gains. Concerns over government interference and upcoming Federal Reserve signals added to market uncertainty.
In a volatile start to Wednesday trading, U.S. stock index futures fell following a tech-driven selloff on Wall Street. Investors are closely monitoring earnings from key retailers like Target and Lowe's for insights into consumer spending, all while keeping an eye on the Federal Reserve's upcoming symposium.
Earnings reports from major retailers such as Target and Estee Lauder have drawn attention, with Target experiencing a 10% decline in premarket trading. Meanwhile, Lowe's saw a gain of 2.7% after revising its annual sales outlook. These developments occur as market sentiment is unsettled by fears over potential tariff-related price hikes.
The tech sector's high valuations and ongoing concerns about government interference are adding to investor apprehensions. The Trump administration is reportedly considering equity stakes in chip companies, amplifying market tension. As the week progresses, all eyes will be on the Federal Reserve's signals at its symposium, with Chair Jerome Powell expected to deliver a closely-watched speech.
(With inputs from agencies.)
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