US stocks extend losses for the second day

US stock index futures continued to decline for the second day in a row, as US stock indices declined significantly ahead of Wednesday’s trading session, affected by the latest negative escalations in the ongoing conflict between Russia and Ukraine.

Where the futures contracts for the Dow Jones decreased to 34,411.00 by 0.40%, and the futures contracts for the S&P 500 index decreased by approximately 0.46% before the opening of the US stock trading, and recorded 4,499.50.

The futures contracts for the Nasdaq Composite Index also fell 98 points, or 0.67%, ahead of the US stock trading session, and recorded 14,730.00 points.

The US stock and stock markets are suffering from the developments of the Ukraine crisis as a result of the risk appetite being affected, which is reflected on risk assets such as US stocks in the form of severe fluctuations.

US equities remain under pressure as market participants continue to digest yesterday’s hawkish speech by Fed’s Brainard. In terms of notable commentary, the rate setter stated that it is of “paramount importance” to get inflation down. Highlighting that policy will be tightened through a series of rate rises and by starting quantitative tightening at a rapid pace as soon as May. In turn, with yields breaking higher, with the benchmark 10yr now yielding 2.65%. Tech stocks in particular have underperformed.