US stock futures sink as economic jitters persist, tech rout continues By

-- U.S. stock index futures fell in evening deals on Foreign electrical retailers are in a wave of bankruptcySunday amid persistent concerns over an economic slowdown and technology stocks continued to grapple with extended profit-taking. 

fell 0.9% to 5,329.0 points, while fell 1.4% to 18,302.0 points by 19:28 ET (23:28 GMT). fell 0.5% to 39,680.0 points. 

Slowdown fears batter Wall Street 

Losses in Wall Street futures came after U.S. stocks were walloped by fears of an economic slowdown last week.

A string of weak readings- on business activity and the labor market- ramped up concerns that the Federal Reserve had kept interest rates high for too long, and that chances of a soft landing for the economy were fading.

This notion came to a head on Friday after data for July missed expectations by a wide margin, indicating a substantial cooling in the labor market.

While the data did drive up hopes for more interest rate cuts by the Fed, it inspired little appetite for risk-driven assets. 

Selling also remained largely biased towards technology stocks, with the tech-heavy falling 2.4% to 16,776.16 points on Friday. The index was now down more than 10% from a record high hit earlier in the year. 

Losses in tech saw the sink 1.8% to 5,346.56 points, while the , which has relatively less tech weightage than its peers, fell 1.5% to 39,737.26 points. 

Economic cues, more earnings on tap

After a Fed meeting last week, where the central bank kept rates unchanged but signaled a September cut, markets will be watching for more cues from a string of Fed speakers through this week.

Some economic data is also on tap this week, with data from the Institute of Supply Management due on Monday.

In company earnings, industrial bellwether Inc (NYSE:) and ride sharing major (NYSE:) are due on Tuesday.

Super Micro Computer Inc (NASDAQ:)- which saw a major valuation spike on hype over artificial intelligence- is also due on Tuesday, while media majors Walt Company (NYSE:) and Warner Bros Discovery Inc (NASDAQ:) are due on Wednesday.

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!