After sharp losses Friday, Wall Street is poised for more declines as stock-index futures slid Sunday night.
Dow Jones Industrial Average futures
YM00,
-0.63%
were last down more than 250 points, while S&P 500 futures
ES00,
-0.65%
and Nasdaq-100 futures
NQ00,
-0.63%
were also sinking.
Wall Street is bracing for a busy earnings week, with quarterly reports due from Apple Inc.
AAPL,
-2.78%,
Facebook parent Meta Platforms Inc.
FB,
-2.11%,
Google parent Alphabet Inc.
GOOGL,
-4.15%
GOOG,
-4.26%,
Amazon.com Inc.
AMZN,
-2.66%
and Microsoft Corp.
MSFT,
-2.41%,
among others. Investors will also keep an eye on Twitter Inc.
TWTR,
+3.93%,
which reports earnings Thursday and on Sunday was reported to be re-evaluating Elon Musk’s takeover bid.
On Friday, the Dow
DJIA,
-2.82%
shed about 981 points, or 2.8%, marking its worst daily percentage drop since Oct. 28, 2020, according to Dow Jones Market data. The S&P 500 index
SPX,
-2.77%
slid 2.8% and the Nasdaq Composite Index
COMP,
-2.55%
tumbled 2.6%.
For the week, the Dow was down 1.9%, the S&P 500 fell 2.8% and the Nasdaq dropped 3.8%, according to FactSet.
Fed Chairman Jerome Powell added to the worries of jittery investors Thursday by signaling support for a larger, 50-basis-point rate hike at the Fed’s May meeting.