U.S. stock-index futures fell Sunday night, following a losing week on Wall Street amid worries about Fed policy and the fast-spreading omicron variant of COVID-19.
Dow Jones Industrial Average futures YM00,
The Dow DJIA,
Last week’s losses came as investors weighed the U.S. Federal Reserve’s hawkish pivot, speeding up its reduction of monthly bond purchases and predicting three interest-rate hikes next year.
On Sunday, President Joe Biden’s signature $2 trillion spending plan appeared doomed as Sen. Joe Manchin, D-W.Va., said he cannot support it — potentially handing Biden and Democrats a major political loss.
Meanwhile, new COVID-19 cases are growing sharply in many parts of the world, fueled by the rapid spread of omicron. Dr. Anthony Fauci said Sunday that he expects record cases of COVID-19 this winter, and urged people to get vaccinated and get boosters.
Wall Street has a shortened week coming up, with markets closed Friday for the Christmas holiday.