(Reuters) - U.S. stock index futures fell on Tuesday as higher Treasury yields weighed on growth stocks, while a slow pace of expansion in services ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - U.S. stock index futures fell on Tuesday as higher Treasury yields weighed on growth stocks, while a slow pace of expansion in services activity in China stoked worries over demand in the world's second largest economy.
The news sent U.S.-listed shares of Chinese companies including PDD Holdings, JD.com, Baidu and Alibaba down between 0.9% and 1.7%. Traders' bets that the Fed will leave rates unchanged in the next policy meeting stood at 93%, while pricing in a 62% chance of a pause in November, up from 52% a week ago, according to the CME FedWatch tool.
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Futures fall as rising yield, China service data weighAdding to the downbeat mood, a private survey showed China's services activity expanded at the slowest pace in eight months in August, as weak demand persisted and stimulus efforts failed to meaningfully revive consumption. The S&P 500 ended higher on Friday after a jump in unemployment cemented expectations of a pause in the Fed's interest rate hikes this month. Traders' bets that the Fed will leave rates unchanged in the next policy meeting stood at 93%, while pricing in a 62% chance of a pause in November, up from 52% a week ago, according to the CME FedWatch tool.
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