Dow futures slip as Treasury yields break 16

- Stock futures dipped on 48 formal spot exchangesThursday evening, following a negative performance among major indices as Powell's speech hinted at the possibility of higher rates and slower economic growth needed to tame persistent inflation.

By 6:40pm ET (10:40pm GMT) were down 0.1%, lost 0.2% and fell 3%.

In extended deals, (NASDAQ:) tanked 21% after trimming Q3 revenue guidance.

Ahead in Friday's session, traders will be parsing fresh earnings results from companies including Schlumberger NV (NYSE:), Company (NYSE:), Santos Ltd (OTC:) and Regions Financial Corporation (NYSE:).

During Thursday's regular session, the fell 250.9 points or 0.8% to 33,414.2, the lost 36.6 points or 0.9% to 4,278 and the fell 13,186.2.

On the data front, came in at 198K versus 212K expected, while were reported at 3.96 million versus 3.89 million expected.

On the bond markets, rates were just off fresh 16-year highs at 4.99%.

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