U.S. stock-index futures fell Sunday night, following a losing week on Wall Street amid worries about politics, Fed policy and the fast-spreading omicron variant of COVID-19.

Dow Jones Industrial Average futures YM00, -1.22% slid about 500 points, or 1.5%, as of 2 a.m. Eastern. S&P 500 futures ES00, -1.25% were down 1.5%, or 68 points, while Nasdaq-100 futures NQ00, -1.26% slid 1.5%, or more than 200 points. Oil prices also sank, with front-month West Texas intermediate crude CL.1, -3.37% falling $2.82 a barrel, and Brent crude BRN00, -2.90%, the global benchmark, similarly off.

The Dow DJIA, -1.48% dropped more than 500 points, or 1.5%, on Friday, and the S&P 500 SPX, -1.03% and Nasdaq Composite COMP, -0.07% following it lower. For the week, the Dow lost 1.7%, the S&P 500 dropped 1.9% and the Nasdaq tumbled 3%.

Last week’s losses came as investors weighed the U.S. Federal Reserve’s hawkish pivot, speeding up its reduction of monthly bond purchases and predicting three interest-rate hikes next year…

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Also worth a read, if you have access: “Goldman Slashes US Growth Outlook On Manchin Bombshel“.

Now read this: “China’s central bank cuts a benchmark rate for the first time since the pandemic“.

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