Dow Jones Futures Slide on Softer Rate Hike Expectations

The Dow Jones futures declined by 0.12% on Monday, trading at around 53,740 during European hours.

This came despite softer-than-expected expectations for Federal Reserve rate hikes, with market participants now pricing in just a 30.6% probability of a rate hike next month, down from the 52.2% chance estimated last week.

The decline was attributed to weaker-than-expected economic data, including July Retail Sales which contracted by 0.6% month-over-month and missed market expectations for 0.1% growth.