Stock futures fall to start September as market worries about rising rates

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US stock futures fell on Thursday, the first day of September, as traders continued to worry about the possibility of a Federal Reserve rate hike.

Dow Jones Industrial Average futures fell 187 points, or 0.6%. S&P 500 and Nasdaq 100 futures fell 0.7% and 1.1%, respectively.

Nvidia shares contributed to the losses, falling more than 5% after the chipmaker said the US government was restricting some sales to China.

These moves follow four straight days of losses in the major averages. On Wednesday, the last day of August, the Dow slipped almost 0.9%. The S&P 500 lost about 0.8% and the Nasdaq Composite fell about 0.6%.

The Dow Jones closed the month down about 4.1%, while the S&P and Nasdaq posted losses of 4.2% and 4.6%, respectively.

Investors are wondering if equities will challenge June lows again in September, a historically poor month for markets, after weighing recent hawkish comments from Fed officials that show no signs of easing rate hikes. ‘interest.

“If we retest the lows, I think it will happen in September,” SoFi’s Liz Young said Wednesday on CNBC’s “Closing Bell: Overtime.” However, she added, ‘I think to do that would require something to get significantly worse than it was on June 16,’ when stocks bottomed out like earnings revisions. which are worse than investors expect.

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