US stock index futures fell on Thursday, signaling more selling on Wall Street as investors kept a close eye on the impact of rising inflation on the U.S. economy and corporate earnings.
The S&P 500 index and the Dow Jones Industrial Average on Wednesday logged their biggest one-day percentage loss since June 2020 after dismal results from retailer Target Corp underscored just how hard inflation is biting consumers.
Cisco Systems Inc slumped 12.5% in premarket trading as the networking gear maker cut its 2022 revenue growth outlook due to China lockdowns and the Ukraine conflict.
The S&P 500 is down 17.7% so far
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