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TEHRAN, October 09 - U.S. stock index futures fell on Tuesday, following European and Asian weakness, after the International Monetary Fund cut its global growth forecasts, squarely blaming the Sino-U.S. trade war.
TEHRAN, Young Journalists Club (YJC) -U.S. stock index futures fell on Tuesday, following European and Asian weakness, after the International Monetary Fund cut its global growth forecasts, squarely blaming the Sino-U.S. trade war.
The IMF lowered its global economic growth forecasts for 2018 and 2019, and its 2019 estimates for the United States and China, saying the two countries would feel most of the impact of their trade war next year.
Besides the fear of slowing global growth, Wall Street has come under recent pressure after Treasury yields hit multi-year highs as strong data fueled fears about rising inflation and potentially faster interest rate hikes.
The benchmark U.S. 10-year Treasury yield US10YT=RR climbed to its highest since May 2011 on Tuesday.
Despite the recent pullback, U.S. stocks are near record highs and that has raised concerns over valuations, especially of high-growth stocks, such as technology and the FAANG group.
Source: Reuters
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