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Stock futures slightly negative on Wednesday morning

Stock futures were just below flatline on Wednesday morning.

Futures tied to the Dow Jones Industrial Average were down 20 points, or 0.06%, while S&P 500 futures were 0.06% lower and Nasdaq 100 futures were down 0.07%.

In regular trading, the Dow fell more than 350 points, or 1.03%. The S&P 500 and Nasdaq Composite lost 1.4% and 2%, respectively.

The moves came as investors lost hope that the Federal Reserve will be able to engineer a soft landing. Instead, concerns swirled about the state of the economy and whether an economic downturn was looming.

“Investors couldn̵[ads1]7;t decide what they were more worried about: an impending recession, as suggested by the November declines in the ISM, Chicago PMI and Philly Fed, as well as housing data, or the threat of a more hawkish FOMC, as a result of stronger than expected employment data and factory orders,” said Sam Stovall, investment strategist at CFRA Research. “Shares sold off across the board as investors decided to take the profits generated by the last two monthly gains, the first since August 2021.”

Investors are waiting for more economic data this week for hints about what to expect from the Fed. On Wednesday, Boligkredittforeningen will release its weekly report on mortgage applications.

There are also still more companies to report earnings. Campbell Soup and GameStop will report results on Wednesday.

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