Today's Expected Range: The price is anticipated to fluctuate between the support at 16,990 and the resistance at 17,880.
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2. U.S. Futures Plunge as Recession Fears Grip Investors
U.S. stock index futures tumbled on Monday, with Nasdaq futures falling nearly 4%, as recession fears spread through global markets. The stock markets across Asia and Europe experienced significant declines, and bond yields fell as investors flocked to safe-haven assets. Many are betting that the U.S. Federal Reserve will need to cut interest rates quickly to stimulate growth.
All megacap and growth stocks, which had been the main drivers of the indexes reaching record highs earlier this year, dropped sharply in premarket trading.
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