US stock futures were trading significantly lower ahead of the final trading day of the first half of the year.
Major Futures Shows fell more than 1% as trading began on Wall Street.
This comes a day after the US economy contracted more than expected.
Wall Street’s benchmark S&P 500 index fell 0.1% on Wednesday after data showed US economy shrinks in the first quarter amid high inflation and weakening consumer confidence.
Investors are worried about signs that the world’s largest economy could slip into recession as interest rate hikes are used to cool rising inflation.
10-year Treasury notes traded at 3.06%.
Traders will watch Thursday morning’s key economic reports including jobless claims, earnings and spending for May and core PCE, which is Federal Reserve preferred inflation measure.
Bitcoin is trading under $20,000.
In Asia, the Nikkei 225 in Tokyo fell 1.4%, the Hang Seng index in Hong Kong gained 0.2% and China’s Shanghai Composite index gained 1.4% after the official weekly gauge. month on factory activity increased and new orders improved.
|Me: DJI||DOW JONES AVERAGES||31029.31||+82.32||+ 0.27%|
|Me: COMP||NASDAQ SUMMARY INDICATOR||11177.893098||-3.65||-0.03%|
On Wednesday, the S&P 500 slid to 3,818.83, while the Dow Jones Industrial Average rose 0.3 percent to 31,029.31. The Nasdaq composite fell less than 0.1% to 11,177.89.
In the energy market, Benchmark US crude traded around $109 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.98 on Wednesday to $109.78. Brent crude, the base price for international oil trading, trades around $115 a barrel in London. It fell $1.72 in the previous session to $116.26. each carton.
The Associated Press contributed to this report.