- Wall Street was prepared for another day of losses due to growing worries about the health of the overall economy and indications that rate hikes by the federal reserve will not be stopping anytime soon.

- S&P 500 futures abruptly declined, undoing earlier gains of roughly 0.3%. Contracts on the tech-heavy Nasdaq 100, whose constituents are typically more sensitive to changes in interest rates, fell 0.6% as us 10-year treasury yields increased as a result of Fed officials' Wednesday indications that policy would tighten further. Against a basket of currencies, the dollar gained 0.5%.

- A rally in chip stocks also lost some steam in premarket trading; NVidia Corp. is currently up less than 2%, paring earlier gains following quarterly sales that exceeded expectations. Rivals Advanced Micro Devices and Intel saw their gains stall as Cisco Systems increased by 4% on a positive revenue outlook.

- As the closely watched portion of the treasury yield curve remains near levels not seen in four decades — historically a signal that the world's largest economy is on the verge of a recession — stock markets are paying closer attention to the outlook for the US economy.