U.S. stock futures dipped in early morning trading on Wednesday as oil prices gained and bond yields touched a fresh multi-year high.
Futures for the Dow Jones Industrials removed 127 points, or 0.4%, to 34,582,
Futures for the S&P 500 gave up 21 points, or 0.5%, to 4,484.
Futures for the NASDAQ Composite Index shed 110.5 points, or 0.8%, to 14,543.50.
Famed activist investor Carl Icahn said Tuesday an economic downturn could be coming.
“I think there could very well could be a recession or even worse,” Icahn, founder and chairman of Icahn Enterprises, told the media Wednesday.
Meanwhile, traders digested the latest news on the Ukraine-Russia war. Ukrainian President Volodymyr Zelenskyy called for more pressure on Russia from other countries as the conflict appears to be entering a stalemate.
In Asia, the Nikkei 225 in Japan jumped 3%, while in Hong Kong, the Hang Seng index picked up 1.2%.
Oil prices took on $2.73 to $112.00 U.S. a barrel.
Gold prices leaped $8.20 to $1,929.70 U.S.