U.S. stock index futures dropped on Wednesday, pressured by a fall in big tech companies after the announcement of a broad antitrust investigation ...
REUTERS: U.S. stock index futures dropped on Wednesday, pressured by a fall in big tech companies after the announcement of a broad antitrust investigation by the U.S. Justice Department into the sector.
Shares in the all three companies - among Wall Street's most highly valued by market cap - fell between 0.8per cent and 1.3per cent. Shares in planemaker Boeing Co were down 0.6per cent as markets awaited a fuller update on the impact of the worldwide grounding of its lucrative 737 MAX passenger jets after two deadly crashes. The company has already said it would take a roughly US$5 billion charge for the affair this quarter.Heavy equipment marker Caterpillar was also set to report results before the bell.
While investors in general had dialled down forecasts for this and next quarter, expectations that the Federal Reserve will cut interest rates at its policy-setting meeting next week have made traders more optimistic about the next year and more willing to buy stocks.
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