(MENAFN– ecpulse) U.S. stock futures were splashed in red Wednesday, echoing global stock markets as the Federal Reserve taper talk returns to take center stage, edging-off this year’s rally.
U.S. stock futures were roughly down 0.3% ahead of the opening bell, with the negative sentiment owed to hawkish statements from Chicago Fed President Charles Evans and Atlanta Fed President Dennis Lockhart.
Futures on the Dow Jones Industrial Average lost 0.368% to 15417 points. The S &P 500 index futures dropped 0.348% to 1688.00 points. The NASDAQ 100 futures were at 3110 points, down by 0.257%.
Fed Bank of Chicago President Charles Evans, a proponent of monetary stimulus, said he would not rule out a decision to begin trimming bond purchases in September.
The prospect of the U.S. Federal Reserve cutting back on its massive quantitative easing campaign, which has helped push U.S. stocks to record highs, had managed to pressure markets down in recent time.
Earnings continue rolling in Wednesday, with quarterly results due before the opening bell from AOL and Time Warner. Tesla Motors is up in the afternoon.
First Solar shares sank in after-hours trading Tuesday after the company reported quarterly earnings that missed analyst estimates.
Zillow Inc. plunged 8.7 percent after reporting a second-quarter loss.
Walt Disney Co. dropped 2.9 percent in Germany after third-quarter profit was little changed from the same time a year earlier.
On the economic front, the U.S. Federal Reserve will release its monthly report on consumer credit at 03:00 p.m. ET.
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