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12.01.202612:25:51UTC+00US Equity Futures Pull Back

Futures linked to U.S. equities declined on Monday, reflecting widespread downward pressure across all asset classes after the Trump administration intensified its criticism of the Federal Reserve. Contracts for the three primary stock indices fell by over 0.5%, with the S&P 500 and the Dow retreating from their record highs. The Department of Justice issued a subpoena to Fed Chairman Powell, citing criminal charges related to the restoration of Fed buildings. Powell remarked that these charges appear to be an attempt to remove him, following his FOMC monetary policy decisions. Bank and financial sector stocks also declined, influenced by both the overall market pressure and President Trump's call for a temporary 10% cap on credit card interest rates for one year. Furthermore, the sector faced additional scrutiny as several major banks were scheduled to report their earnings this week, with expectations on Wall Street leaning towards a general slowdown in revenue growth. Major tech firms also saw declines due to ongoing concerns about the substantive basis for increased pledges in datacenter capital investments.

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