By Oliver Gray
Investing.com - U.S. stock futures were trading higher during Monday’s evening deals, after major benchmark averages tumbled during regular trade, with the S&P 500 closing in bear market territory amid growing recession fears as traders nervously await this week’s key Federal Reserve meeting .
Ahead in the session, May’s producer price index reading is slated for release and will be closely watched. On Wednesday, markets will be focused on the Fed’s interest rate decision , with some investors beginning to anticipate an even faster pace of interest rate hikes after last week’s inflation reports showed prices running hotter-than-expected.
During Monday’s regular trade, the Dow Jones Industrial Average dropped 876.05 points, or 2.79%, the S&P 500 fell 3.88% to 3,749.63, marking its lowest level since March 2021, while the NASDAQ Composite tumbled 4.68% to close at 10,809.23.
On the bond markets, United States 10-Year yields shot up to fresh 11-year highs of 3.362%.
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