September S&P 500 E-Mini futures (ESU24) are down -2.48%, and September Nasdaq 100 E-Mini futures (NQU24) are down -4.10% this morning, extending last week’s losses as concerns intensified that the Federal Reserve is lagging in providing policy support for a slowing U.S. economy.
The market turmoil is increasing expectations for an emergency policy response from the Fed. Traders are now assigning a 30% probability to a 25 basis point interest rate cut within a week.
