Spencer Platt | Getty Images Stock futures fell on Monday morning as investors tried to shake off a sharp decline in stocks late last week. Futures for the Dow Jones Industrial Average fell 240 points, or about 0.75%. Those for the S&P 500 and Nasdaq 100 fell 0.92% and 1.3%, respectively. The moves in futures come after a brutal sell-off for Wall Street on Friday, when brief and blunt remarks by Federal Reserve Chairman Jerome Powell in Jackson Hole, Wyoming, appeared to extinguish hopes that the central bank would change the aggressive course of interest rate hikes in the months ahead. The Dow fell 1,008 points, or just over 3%, for its worst day since May. The S&P 500 and Nasdaq Composite fell 3.4% and 3.9%, respectively, for their worst days since June. The decline erased August’s gains for all three averages. “Investors have again reduced their recent risk position, supporting our view that it is too early to call the recent risk appetite more permanent and now more likely to have cost them dearly,” Bensignor’s Rick Bensignor Investment strategies mentioned in a note to clients. The coming week brings more Fed speeches, including from Vice Chair Lael Brainard on Tuesday, ahead of the August nonfarm payrolls report on Friday.
