US Stock Market LIVE: Dow futures slip 100 points as Fed's Powell cautions about higher long-term rates

US Stock Market LIVE: US stock futures, particularly the Dow Jones are trading under pressure, as the risk-on rally appeared to have faltered on Wall Street. The Dow Jones futures are down 200 points, while those on the S&P 500 and Nasdaq are trading just below the flat line. The S&P 500 and Nasdaq gained for the third day in a row on Wednesday, led by megacap tech shares, which have risen between 10% and 20% so far this week. Watch this space for all the Live updates.

US Stock Market LIVE: US stock futures, particularly the Dow Jones are trading under pressure, as the risk-on rally appeared to have faltered on Wall Street. The Dow Jones futures are down 200 points, while those on the S&P 500 and Nasdaq are trading just below the flat line. The S&P 500 and Nasdaq gained for the third day in a row on Wednesday, led by megacap tech shares, which have risen between 10% and 20% so far this week. A major reason for the fall on the Dow futures is its biggest index constituent - UnitedHealth. The stock fell 8% in extended trading after the Wall Street Journal reported that the company is under investigation for a potential Medicare fraud. The US Dollar pared back losses after the US clarified it is not using the currency as a bargaining tool for trade deals. Gold fell to a one-month low. The US will report wholesale inflation, retail sales and Walmart earnings later this evening. Watch this space for all the Live updates.