US STOCKS SNAPSHOT-Futures erase gains as August PCE data lifts rate hike worries

BY Reuters | ECONOMIC | 09/30/22 08:37 AM EDT

Sept 30 (Reuters) - U.S. stock index futures fell sharply on Friday, erasing all earlier gains as core personal consumption expenditure price index rose more than expected in August, adding fuel to more aggressive action by the Federal Reserve.

At 8:34 a.m. ET, Dow e-minis were down 63 points, or 0.22%, S&P 500 e-minis were down 6 points, or 0.16%, and Nasdaq 100 e-minis were down 30 points, or 0.27%.

Moments before data, Dow e-minis were up 93 points, or 0.32%, S&P 500 e-minis were up 18.25 points, or 0.5%, and Nasdaq 100 e-minis were up 60.5 points, or 0.54%. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.