Furthermore, tech stocks remain another focal point, as AI providers cut prices to protect existing market share and attempt to knock out the competition.
The US futures signaled another testy session ahead following losses in the Wednesday session. On Thursday (May 30), the Dow mini tumbled 255 points. The Nasdaq mini and S&P 500 mini were down 83 and 19 points, respectively. US 10-year Treasury yields trended higher after jumping 1.36% on Wednesday.
On Wednesday, the Nasdaq Composite Index and the S&P 500 saw losses of 0.58% and 0.74%, respectively. The Dow slid by 1.06%.
China Equity Markets See a Mixed Open
On Thursday, the CSI 300 and the Shenzhen Composite Index saw gains of 0.13% and 0.08%, respectively.
News of the IMF revising its growth forecast for China and aligning with the Beijing projection of 5% supported early gains. The IMF previously expected the Chinese economy to expand by 4.6%. The IMF attributed the better outlook to a strong Q1 2024 and policy measures from Beijing.
However, the Hang Seng Index continued its downward trajectory, falling by 0.38%.