The final trading day of a roller coaster week had U.S. stock index futures trading mixed after the Dow Jones industrial average and the S&P 500 moved into correction territory.
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The Dow fell on Thursday 4.15% to 23,860, a loss of 1,032 points. The S&P 500 declined by 3.75%, or 100.66 points, to 2,581.
As of 7 am ET Friday, Dow futures were down by 15 points to 23,956, while S&P 500 futures were up 7 points to 2,600.50.
The Dow has dropped roughly 2,700 points since last Friday. Positive economic factors such as low unemployment have investors thinking that the Federal Reserve will keep raising interest rates.
Asian markets followed the U.S. session with more losses. In Europe, London’s FTSE dropped to a 10-month low, and Germany’s DAX joined the Dow and S&P in correction territory.
“The question for many is how much further the U.S. can fall and to what extent global markets can de-couple from the fallout,” said Michael Ingram, chief market strategist at wealth manager WHIreland. “The answer to both may be as much about market psychology as it is about market fundamentals, though I’m heartened to see at least partial protection from the U.S. epicenter.”
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