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Stock market news live updates: Stock futures fall ahead of a packed week of earnings, Fed meeting

Emily McCormick · Reporter
Mon, January 24, 2022, 7:42 AM

Stock futures fell Monday morning as investors looked ahead to a busy week of corporate earnings results, economic data and a Federal Reserve monetary policy-setting meeting after an already volatile stretch of trading.

Contracts on the S&P 500, Dow and Nasdaq fell during pre-market trading. As of Friday's close, the S&P 500 was off 8.3% from its record closing high from Jan. 3. And the Nasdaq Composite fell further into a correction, sinking 14.3% from its own record high from Nov. 19.

Prices for major cryptocurrencies tracked the decline in equities. Bitcoin fell to about $33,000 Monday morning, sinking by more than 50% from its early November high. And Ethereum was down more than 10% to hover just over $2,000 as of Monday morning in New York.

Expectations for tighter financial conditions out of the Federal Reserve this year have served as one major factor weighing on equity prices, especially for highly valued stocks that had benefited from the easy financial conditions and high liquidity environment the Fed had contributed to since 2020.

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