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Leading losses among the 30 blue-chip Dow components was Cisco
Systems Inc, down 6% premarket, after the network gear maker
cautioned that supply chain issues will linger through the end
of 2021 and forecast its current-quarter profit below estimates.
Economic data before the opening bell is likely to show the
number of Americans filing for unemployment benefits fell to
450,000 in the week ended May 15, down for the third straight
time in what could be the latest evidence of U.S. worker
shortage.
Wall Street's main indexes fell for the third consecutive
session on Wednesday after minutes from Fed's meeting last month
indicated many policymakers thought it would be appropriate to
discuss easing crisis-era support in upcoming meetings if the
strong economic momentum is sustained.
However, many analysts viewed the statement as old news as
economic data since then has showed an unexpected slowdown in
the labor market, fanning inflation worries.
Bitcoin regained some lost ground to trade near $40,000, a day
after a brutal selloff. Crypto-exchange operator Coinbase
Global, miners Riot Blockchain and Marathon Digital Holdings
rebounded between 1% and 2% in sympathy with the digital coin.
At 6:30 a.m. ET, Dow e-minis were down 158 points, or 0.47%, S&P
500 e-minis were down 17.75 points, or 0.43%, and Nasdaq 100
e-minis were down 50 points, or 0.38%.
(Reporting by Medha Singh and Shashank Nayar in Bengaluru;
Editing by Maju Samuel)
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