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US stock index futures fell in early trading on Monday, after major indexes posted their best week in months amid a stronger-than-expected start to the earnings season, Dow Jones Industrial Average futures fell 174 points or 0.5%, and S&P 500 futures were down 174 points, or 0.5%. By 0.5%, the Nasdaq 100 futures contract was down 0.5%.
People’s Bank of China (PBOC) governor Yi Gang said the authorities can contain risks posed to the Chinese economy and financial system from the struggles of China Evergrande Group.
The property developer’s trouble “casts a little bit of concern,” Mr Yi said at a virtual meeting of the Group-of-30 on Sunday (Oct 17). “Overall, we can contain the Evergrande risk.”
Wall Street’s main indexes opened lower on Monday as China’s economic growth slowed while persistently rising oil prices fueled concerns about rising inflation.
The Dow Jones Industrial Average fell 73.74 points, or 0.21 percent, to 35,221.02 points.
The Standard & Poor’s 500 index opened 7.65 points, or 0.17 percent, to 4,463.72 points, and the Nasdaq Composite Index fell 57.60 points, or 0.39 percent, to 14,839.74 points.
US factory production fell against expectations in September as auto production slumped amid an ongoing global shortage of semiconductors.
The Federal Reserve said Monday that industrial production fell 0.7% last month.
August data was revised down to show production declining 0.4% instead of rising 0.2% as previously reported.
Economists polled by Reuters had expected output to rise 0.1%.
West Texas Intermediate crude rose more than 1% to over $83 a barrel on Monday for the first time since October 2014 as demand continued to rise and amid a global energy crisis.
