Dow Futures and Tech Bounce After Deep Selloff—and What Else Is Happening in the Stock Market Today

Corporate earnings remain front and center for Wall Street.

Angela Weiss/AFP/Getty Images

Stocks were bouncing back Wednesday, after a deep selloff on Tuesday as investors fretted about factors including the earnings of major tech companies and risks to global economic growth from a slowdown in China.

Futures for the Dow Jones Industrial Average rose 320 points, or 1%, after the index fell 809 points on Tuesday to close at 33,240. S&P 500 futures signaled a start 0.9% into the green with the tech-focused Nasdaq poised to increase 0.9%. The S&P 500 and Nasdaq tumbled 2.8% and 4% in the last session, respectively; it was the Nasdaq’s worst one-day loss since September 2020.

Overseas, the pan-European Stoxx 600 was 0.6% higher and Tokyo’s Nikkei 225 lost 1.2% as Asian bourses largely followed Wall Street’s Tuesday selloff.

“There is a perfect storm of forces leading to lower stock prices, including a hawkish Federal Reserve, rising interest rates, economic growth fears and renewed Covid worries,” said Ryan Belanger, managing principal of wealth manager Claro Advisors. “Investors are being protective of their money, more so than any time since March 2020, and are selling first and asking questions later.”

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