Stock futures fall after Powell’s hawkish comments

U.S. stock futures fell and Treasury yields jumped to start the week, as investors remained rattled by the Federal Reserve’s decision to continue fighting inflation even as it causes economic pain.

Futures tied to the S&P 500 fell 1%, sending the benchmark on pace to extend Friday’s 3.4% loss. Contracts for the Dow Jones Industrial Average lost 0.9%, while contracts linked to the technology-focused Nasdaq-100 fell 1.2%.