U.S. equity futures wavered and Asian stocks looked set for a muted open after another volatile Wall Street session ahead of a Federal Reserve policy decision that’s expected to signal a March interest-rate liftoff.
U.S. contracts initially dropped early in Asia Wednesday before paring losses. Futures were steady for Japan and higher for Hong Kong. The S&P 500 erased a near-3% intraday slide Tuesday but subsequently fell again to close at the lowest since October, while the technology-heavy Nasdaq 100 underperformed.
Microsoft Corp. stoked worries about the tech outlook. The firm’s shares and the Invesco QQQ Trust Series 1 -- an ETF that tracks the Nasdaq 100 -- slid in extended trading after Microsoft reported slowing cloud-services revenue.
The benchmark U.S. 10-year Treasury yield was little changed ahead of the Fed, while the dollar was mixed against major peers. Crude oil held a rally, in part on the risk that a Russia-Ukraine conflict could disrupt supplies.
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