Dow futures slip as Treasury yields break 16-year highs

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Dow futures slip as Treasury yields break 16-year highs
Credit: © Reuters.

Investing.com - Stock futures dipped on Thursday evening, following a negative performance among major indices as Powell's speech hinted at the possibility of higher rates and slower economic growth needed to tame persistent inflation.

By 6:40pm ET (10:40pm GMT) Dow Jones Futures were down 0.1%, S&P 500 Futures lost 0.2% and Nasdaq 100 Futures fell 3%.

In extended deals, SolarEdge Technologies Inc (NASDAQ: SEDG ) tanked 21% after trimming Q3 revenue guidance.

Ahead in Friday's session, traders will be parsing fresh earnings results from companies including Schlumberger NV (NYSE: SLB ), American Express Company (NYSE: AXP ), Santos Ltd (OTC: STOSF ) and Regions Financial Corporation (NYSE: RF ).

During Thursday's regular session, the Dow Jones Industrial Average fell 250.9 points or 0.8% to 33,414.2, the S&P 500 lost 36.6 points or 0.9% to 4,278 and the NASDAQ Composite fell 13,186.2.

On the data front, jobless claims came in at 198K versus 212K expected, while existing home sales were reported at 3.96 million versus 3.89 million expected.

On the bond markets, United States 10-Year rates were just off fresh 16-year highs at 4.99%.

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