US stock futures dropped along with Asian shares as uncertainty over the Federal Reserve’s policy outlook and Palantir Technologies Inc.’s earnings weighed on sentiment.
Contracts for the S&P 500 fell 0.5% after the underlying index posted a modest gain on Monday, even as more than 300 of its members retreated. Nasdaq 100 futures fell 0.7%, with Palantir declining more than 4% in extended trading on concerns about the company’s lofty valuation after a record run-up.
Futures also indicated a weaker open for European shares. Asian equities dropped 0.6%, while in South Korea, the regulator issued an unusual “investment caution” on SK Hynix Inc. shares after its 240% rally.
A gauge of the dollar extended its gains to a fifth day after the greenback strengthened against most of the Group-of-10 currencies, trading at levels last seen in August.
The advance came amid mixed signals from Fed officials, following Chair Jerome Powell’s warning last week that a rate cut in December isn’t a foregone conclusion.
