U.S. stock futures were dropping in thin trading on Monday, as lingering concerns about elevated interest rates and the government’s mounting debt burden spoiled any chance of an end-of-year party for markets.
Dow Jones Industrial Average futures dropped 427 points, or 1.0%. Futures tracking the benchmark S&P 500 were falling 1.2% and contracts tied to the tech-heavy Nasdaq 100 dived 1.3%.
Investors are still fretting that the Federal Reserve won’t cut interest rates by as much as they were hoping in 2025, with inflation still running clear of the central bank’s 2% target.
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