US Stock Futures Fall Ahead of Fed Decision as Yields and Oil Prices Rise
US stock futures fell on September 15 as investors await the Federal Reserve's policy decision. Rising Treasury yields and crude oil prices have heightened expectations for a rate hike.
The S&P 500 futures were down 0.3%, while Nasdaq-100 futures declined 0.4%. Futures tied to the Dow Jones Industrial Average also fell 229 points, or 0.4%.
Several technology stocks, including Alphabet and Microsoft, fell in premarket trading by around 1% each. Chipmakers were trading in a narrow range, while Nvidia edged marginally higher.
The pressure on equities was compounded by rising Treasury yields, which have reached their highest level since 2007 at 5.041%. This has raised the stakes ahead of the Federal Reserve's interest-rate decision on Wednesday, with money markets pricing in a rate hike as almost certain.