Stock futures declined early Monday morning after the Dow posted its worst week since October.
Futures on the Dow Jones Industrial Average dropped 207 points. S&P 500 futures and Nasdaq-100 futures both also traded in negative territory.
U.S. stocks fell on Friday as investors digested new economic projections from the Federal Reserve and worried rate hikes could come sooner than expected.
The Fed on Wednesday raised its inflation expectations and forecast rate hikes in 2023. St. Louis Fed President Jim Bullard said Friday on CNBC’s “Squawk Box” that it was natural for the central bank to tilt a little more “hawkish” and saw higher interest rates as soon as 2022.
The Dow dropped 3.5% last week, while the S&P 500 and Nasdaq dipped 1.9% and 0.2%, respectively, on the week.