U.S. stock futures fell and Treasury yields jumped to start the week, as investors remained rattled by the Federal Reserve’s resolve to keep fighting inflation even if it causes some economic pain.
Futures tied to the S&P 500 dropped 1%, putting the benchmark index on pace to extend its 3.4% loss on Friday. Contracts for the Dow Jones Industrial Average lost 0.9%, while those tied to the tech-focused Nasdaq-100 sank 1.2%.