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Dow futures down nearly 200 points after Fed minutes note concerns

Dow futures down nearly 200 points after Fed minutes note concerns

Published: Aug. 20, 2020 at 12:01 a.m. ETBy 

Mike Murphy

 

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U.S. stock index futures sank Wednesday night, after stocks fell on Wall Street following Fed minutes that revealed concern over the economic outlook. As of midnight Eastern, Dow Jones Industrial Average futures YM00, -0.51% were down around 170 points, or 0.6%, while S&P 500 futures ES00, -0.48% and Nasdaq-100 futures NQ00, -0.49% fell by about the same percentage. Earlier in the day, stocks gave up early gains as minutes of the Federal Reserve’s July meeting showed staff cut their economic growth forecast for the rest of 2020 and stressed the need for additional fiscal stimulus in the wake of the coronavirus pandemic. The Dow Jones Industrial Average DJIA, -0.30% lost 85.19 points, 0.3%, to close at 27,692.88, while the S&P 500 SPX, -0.44% fell 14.93 points, 0.4%, to close at 3,374.85, after setting an intraday record of 3,399.54. The Nasdaq Composite Index COMP, -0.57% slipped 64.38 points, or 0.6%, to close at 11,146.46, after also reaching a new intraday record of 11,257.42.

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