US Stock Futures Decline as Economic Concerns Grow – Europe Market Wrap

Wall Street stock futures fell and Treasuries rose as Trump’s protectionist policies and cuts to the government workforce eroded confidence in the US economy’s performance.

S&P 500 contracts fell 1% as the benchmark market had its worst week since September, while Nasdaq 100 contracts fell 1.1%. Tesla shares plummeted almost 3% in premarket trading on Monday, erasing their post-election gains, while most other Big Tech firms declined, including Nvidia. European stocks fell 0.4%.

Growing concern about the potential consequences of trade tariffs and massive government job layoffs pushed 10-year Treasury rates down 5 bps. The main borrowing rate has fallen by more than 20 bps in the last month, raising concerns that the world’s largest economy would halt.

Earlier, Chinese stocks listed in Hong Kong plummeted after consumer inflation went below zero for the first time in 13 months, adding to the world’s second-largest economy’s bleak outlook.