Futures slide more than 1% on growth concerns

Published by
Reuters

(Reuters) - Wall Street futures fell on Friday as investors fretted over the prospect of an economic downturn and a hit to corporate earnings from the U.S. Federal Reserve's aggressive policy tightening moves to quell inflation. Technology and growth stocks led declines in premarket trading, with megacap names including Alphabet Inc, Apple Inc, Amazon.com, Microsoft Corp and Tesla Inc all down more than 1% as benchmark Treasury yields were at an 11-year high. The U.S. central bank raised rates by a widely expected 75 basis points on Wednesday and signaled a longer trajectory for policy rates a...

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