A summer rally was halted last week as fears of aggressive interest rate hikes from the Federal Reserve resurfaced on Wall Street.
U.S. stock futures fell Monday following a halt in the summer rally last week, as fears of aggressive interest rate hikes returned to Wall Street.
Dow Jones Industrial Average futures fell 321 points, or by 0.95%. S&P 500 and Nasdaq 100 futures dropped 1.22% and 1.57%, respectively.
Those moves come as European markets experienced steep declines, driven in part by worries of rising inflation and higher interest rates around the world.
On Friday, the S&P 500 closed down 1.29%. The Dow Jones Industrial Average dropped 292 points, or 0.86%, and the Nasdaq Composite dropped 2.01%. The major averages also posted weekly losses.
Source: Dow futures drop 300 points to start the week as Wall Street rally continues to fizzle
