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This week's inflation data provided more evidence that the Federal Reserve is nearing its objective, fresh on the heels of the central bank's dramatic interest rate cut just a few weeks ago.
Dow Jones Industrial Average futures are near flat Sunday night after excitement over last week's interest rate cut propelled the blue-chip index to a record closing level.
NEW YORK (Reuters) -- U.S. stocks ended with steep losses on Monday, leaving the Nasdaq and S&P 500 down at least 3% each as the market extended last week's sell-off amid U.S. recession worries and as Apple shares fell sharply on news that a big investor had cut its stake.
Wharton's Jeremey Siegel on Monday called on the Federal Reserve to make an emergency 75 basis-point cut in the federal funds rate after Friday's disappointing jobs report.
Markets have become less convinced that the Federal Reserve is ready to press the button on interest rate cuts, an issue that cuts at the heart of where the economy and stocks are headed.