U.S. equity futures are adding to losses following three days of declines after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession.
The major futures indexes suggest a decline of 0.8% when Wall Street begins trading.
The yield on the 10-year Treasury, which influences mortgage rates, was at 3.68% on Friday.
Oil prices fell Friday amid recession fears and a stronger U.S. dollar, though losses were capped by supply concerns.
West Texas Intermediate (WTI) crude futures were trading around $83.00.
Brent crude futures traded around $89.00 per barrel.
For the week the contracts for TWI and Brent were down 2.3% and 1.5% respectively.
In Asia, Hong Kong’s Hang Seng sank 1.2% and China’s Shanghai Composite Index lost 0.7%. Japanese markets were closed for a holiday.
The S&P 500 lost 0.8% on Thursday to 3,757.99. The Dow Jones Industrial Average fell 0.4% to 30,076.68 and the Nasdaq composite slid 1.4% to 11,066.81.