Stock Selloff Deepens as Fed Fears Rattle Traders: Markets Wrap

The selloff in US stocks extended into Friday as fears of a hawkish pivot by the Federal Reserve fueled a continued retreat from risk. UK assets were pummeled amid fresh uncertainty over Britain’s finances.

Technology stocks were again at the forefront of the US decline, with Nasdaq 100 futures down 1.3%. The S&P 500 was on course for its first back-to-back weekly loss since June. The Cboe Volatility Index climbed above 22.

The Magnificent Seven all retreated in premarket trading as doubts over an interest-rate cut in December deepened concerns about stretched valuations. Tesla Inc. and Nvidia Corp. dropped 4.6% ...