US futures rebound after Dow plunges below 30,000 as central banks spark recession fears

Harry Robertson / MARKETS INSIDER 

 

US futures rebounded Friday after a sharp sell-off on Wall Street saw the Dow plunge below 30,000.

• Interest rate hikes from three major central banks this week have added to fears that a recession may be looming.
• Asian stocks followed Wall Street lower overnight, while oil prices and the dollar rose. 

US futures rallied Friday after a brutal sell-off the day before sent the Dow Jones below 30,000 for the first time early 2021, as central banks' rate hikes sparked fears about a global recession .

Dow Jones futures were up 0.85% as of 5.05 a.m. ET, as investors looked to finish the week on a brighter note. S&P 500 futures were up 0.97%, while Nasdaq 100 futures were 1.12% higher. Elsewhere in markets, European stocks also attempted a recovery, but Asian shares followed Wall Street sharply lower overnight. Oil prices rose slightly, as did the dollar and cryptocurrencies. Read more and see video here.