Stock Market Today-8/22: Stocks Slide on Growth, Inflation Worries

Updated at 8:44 a.m. EST

US stock futures slumped lower on Friday as the dollar extended its best weekly gain in more than two years as investors took a defensive tone ahead of a pivotal week for the Fed amid concerns that rising inflation could affect growth prospects in” the world’s largest economies.

An energy crisis in Europe, which threatens to turn the region into recession as the cost of living rises, in addition to damage to the world’s second-largest economy from China’s ‘zero Covid’ health policy, has contributed to dampened investor sentiment .

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