US Futures Slide on Economic Fears

US stock futures edged lower on Thursday, extending losses as investors grapple with mounting recession fears and lingering uncertainties around the path for Federal Reserve rate hikes.

Futures contracts tied to the three major indexes were all down about 0.2%.

In extended trading, Rent the Runway surged 25% after the online retailer topped revenue expectations, while GameStop jumped 4% even after reporting disappointing results.

In regular trading on Wednesday, the Dow ended flat, while the S&P 500 and Nasdaq Composite fell 0.19% and 0.51%, respectively.

Eight out of 11 S&P sectors declined, led by communication services, technology and consumer discretionary.

Those moves came as the bond market flashed growing recession fears, reflecting recent warnings from top US executives who flagged a possible recession next year.

Investors now await the latest weekly jobless claims, as well as more earning reports from firms such as Broadcom, Costco and Lululemon.