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Market Update: US Stock Futures Trade Lower
US futures traded lower in early APAC deals on Thursday, following declines in the previous session after the Fed sharply raised its inflation forecast for this year and brought forward the time frame on when it will hike interest rates. This change in outlook brought renewed fears that the central bank may have to rein its ultra-easy monetary policy to prevent the US economy from overheating. However, the Fed did not indicate when it will begin cutting back on its aggressive bond-buying program. Local 10-year bond yields lifted to 1.586%. On Wednesday, the Dow Jones dropped 266 points or 0.8% to 34,034, the S&P 500 declined 23 points or 0.5% to 4,224 and the tech-heavy Nasdaq retreated 33 points or 0.2% to 14,040. [/s2If]
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