Wall Street seeks to rebound from one of its worst weeks in 2022 as U.S. stock futures dipped Sunday night.
The Dow Jones Industrial Average futures fell 340 points or 1.09 percent.
Nasdaq 100 futures were down 2.16 percent, while S&P 500 futures were down 1.6 percent.
The Dow Jones, S&P 500, and Nasdaq posted their biggest weekly declines since late January.
Last week’s losses came after hotter-than-expected U.S. inflation data spooked investors.
The Federal Reserve is expected to announce at least a half-point rate hike on Wednesday.
Yardeni Research now sees a 45% chance of a “mild recession;” that’s up from the previous forecast of 40%.
Stocks have had a tough year as recession fears rise along with consumer prices.
The S&P 500 is down 18.2% year to date through Friday’s close. It’s also 19.1% below an intraday record set in January.
The Dow has fallen 13.6% in 2022, and the Nasdaq Composite is deep in the bear market territory, down 27.5% this year and trading 30% below an all-time high set in November.