U.S. stock futures fell late Sunday, following Wall Street’s worst week since October.
After initially dropping more than 300 points, Dow Jones Industrial Average futures were last down around 50 points, or 0.2%, while S&P 500 futures and Nasdaq-100 futures both fell around 0.3%.
Video: US stock futures point to lower open as volatility continues (CNBC)
Stocks tumbled Friday, with the three major indexes posting their worst week, and overall month, since October, as volatile trading in a number of heavily shorted companies such as GameStop and AMC Entertainment sparked worries of a bubble.
“The Frenzy will soon come to an end,” Stephen Innes, chief global markets strategist at Axi wrote in a note Sunday. “But I don’t think we have spawned a new generating of super traders; ’cause we all know this is eventually going to end in tears for the greedy.”
“I caution here that it is imperative to stay nimble as risk markets could spin like a top this week,” he added.
Last week, the Dow closed 3.2% lower, the S&P 500 fell 3.3% and the Nasdaq Composite was off 3.5%. On a monthly basis, the Dow lost 2%, the S&P 500 shed 1.1% and the Nasdaq Composite gained 1.7%.