Futures slip after sharp Wall Street rally

Published by
Reuters

(Reuters) – U.S. stock index futures edged lower on Wednesday following a sharp rally in megacap growth stocks in the previous session that fizzled out on fears of aggressive monetary policy tightening and slowing economic growth. Rate-sensitive Big Tech and growth companies such as Microsoft Corp, Apple Inc, Google owner-Alphabet Inc, Meta Platforms, Tesla Inc and Amazon.com fell between 0.6% and 1.5% in premarket trading after a sharp rebound on Tuesday. Yields on the benchmark U.S. 10-year Treasury hovered near 3%. [US/] The S&P 500 and the Nasdaq closed more than 2% higher in the previous …

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