U.S. equity futures are trading cautiously following the latest interest rate move by the Federal Reserve.
The major futures indexes suggest a decline of 0.2%.
Oil slipped on Thursday as a U.S. interest rate hike pushed up the dollar and fueled fears of a global recession.
West Texas Intermediate (WTI) crude futures traded around $89.00.
Brent crude traded around $95.00.
On Wednesday, the Federal Reserve added to recession fears by saying it wasn’t finished raising U.S. interest rates to cool inflation.
The Fed raised its short-term lending rate by 0.75 percentage points, three times its usual margin, for a fourth time this year.
The yield on the 10-year Treasury, used to set mortgage rates, climbed to 4.14% on Thursday.
Traders will be watching the latest reports on jobless claims, trade balance and factory orders.
Roku shares are down 19% in premarket trading after the streaming platform said it expects fourth-quarter revenue to be lower than last year.
Shares of Qualcomm are down 6% in premarket trading after the company forecast that revenue would come in $2 billion less than Wall Street analysts estimated for the current quarter due to a sharp drop in smartphone sales.
In Asia, Hong Kong’s Hang Send fell 3%, China’s Shanghai Composite Index lost 0.3%. Japanese markets were closed for a holiday.
Wall Street’s benchmark S&P 500 index plunged 2.5% to 3,759.69. The Dow Jones Industrial Average lost 1.5% to 32,147.76. The Nasdaq composite slid 3.4% to 10,524.80.