Stock futures fell, pointing to more losses on Wall Street, and government bond yields rose to new multiyear highs amid investor worries about further rate rises
Futures for the S&P 500 declined 2%, setting major indexes up for another day of losses after the New York opening bell. Contracts tied to the technology-focused Nasdaq-100 fell 2.4% while those for the Dow Jones Industrial Average receded 1.5%.
The Cboe Volatility Index—Wall Street’s so-called fear gauge, also known as the VIX—rose to 33.56, its highest closing level since March 8. “There was no news from one day to the next that would cause that dramatic shift in sentiment over a 24-hour period. The market volatility shows that there is great uncertainty about where people think we are headed,” Mr. Andersen said.
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