Dow Futures Drop 300 Points

Futures on the Dow Jones Industrial Average dropped 295 points this morning. The retreat is credited to concern surrounding the fact the Federal Reserve may remove stimulus this year despite the economy’s struggle with the Covid delta variant. The Dow also tanked by 380 points on Wednesday for its worst performance in a month. Meeting minutes from the Fed’s gathering in July showed the central bank has started eyeing tapering its $120 billion in monthly bond purchases before the year-end. In addition, S&P 500 futures shed 0.7% and Nasdaq-100 lost 0.6%. Goldman Sachs ($GS@US) cut its economic forecast to 5.5% from 9% Wednesday night for the current quarter.