Futures Slide 1 Percent Over Inflation Concerns

Futures Slide 1 Percent Over Inflation Concerns
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Sept. 29, 2021. Brendan McDermid/Reuters
Reuters
Updated:

U.S. stock index futures fell about 1 percent in early New York hours on Wednesday as soaring oil prices fed into fears of higher inflation, while a stalemate continued in the U.S. Congress over the government debt ceiling.

Asian and European stocks fell earlier in the day as oil hit a multi-year high above $83 a barrel amid a rally in global energy prices, fuelling concerns that major central banks will tighten monetary policy to counter sharp price rises.