FX.co ★ US Futures Extend Pullback

US equity futures declined for a third consecutive session on Wednesday as rising bond yields pressured expectations for corporate profit margins and consumer demand. Futures on the S&P 500 and Dow Jones Industrial Average slipped about 0.5%, while renewed weakness in technology shares pushed Nasdaq 100 futures down nearly 1%.

Oil and fuel prices extended their gains as hostilities between the US and Iran intensified, reducing the odds of a near‑term resumption of Middle Eastern oil exports and heightening inflation concerns ahead of next week’s Federal Reserve meeting.

Fears grew that higher borrowing costs could increasingly weigh on equities, challenging the resilience markets have shown since the war began. One factor is rising funding needs at AI-focused hyperscalers, which are taking on more debt to finance large-scale data center projects. Alphabet shares fell 2.3% after the company announced a $15.1 billion expansion in Finland, while Amazon dropped 1.5% following another sterling-denominated debt offering. In contrast, Meta rose 5% after unveiling a new AI agent.