May 12, 2022 3:40 a.m. ET
US stock futures slipped ahead of producer-price figures, a day after consumer-inflation data showed signs of moderating but still came in ahead of economists’ expectations.
Futures on the S&P 500 were down 0.5% and futures on the Dow Jones Industrial Average slipped 0.4%. The contracts don’t necessarily predict market moves after the markets open.
In Europe, the Stoxx Europe 600 was lower 2.1% in morning trade dragged down by declines in consumer staples and energy sectors.
BP fell 4% and Anheuser-Busch InBev declined 2.3%.
The UK’s FTSE 100 was down 2%. Other stock indexes in Europe also mostly slipped as France’s CAC 40 shed 2.2%, the UK’s FTSE 250 fell 1.5% and Germany’s DAX lost 2.2%.
The Swiss franc, the euro and the British pound dropped 0.3%, 0.6% and 0.5% respectively against the US dollar.
In commodities, Brent crude declined 2.1% to $105.28 a barrel. Gold was also down 0.4% to $1,846.70 a troy ounce.
German 10-year bund yields fell to 0.889% and the yield on 10-year UK government debt known as gilts was down to 1.742%. 10-year US Treasury yields slipped to 2.833% from 2.918%. Yields move inversely to prices.
In Asia, indexes mostly slipped as Hong Kong’s Hang Seng fell 2.2%, Japan’s Nikkei 225 index declined 1.8% and China’s benchmark Shanghai Composite was down 0.1%.
Traders worked on the floor of the New York Stock Exchange on Wednesday.
Photos:
BRENDAN MCDERMID/REUTERS
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