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SNAPSHOT Futures extend losses after robust November jobs report

2022-12-02T13:39:40Z

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 21, 2022. REUTERS/Brendan McDermid

U.S. stock index futures fell sharply on Friday as higher-than-expected job additions in November poured cold water on investor expectations of the Federal Reserve easing its aggressive monetary policy tightening.

Money market bets show an 87% chance of a 50-basis point hike by the Fed at its December meeting, down from 91% before the data was published. FEDWATCH

At 08:32 a.m. ET, Dow e-minis were down 414 points, or 1.2%, S&P 500 e-minis were down 61.5 points, or 1.51%, and Nasdaq 100 e-minis were down 261.5 points, or 2.17%.

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