Futures slip on treasury secretary's comments; eyes on upcoming Fed meet

(Reuters) - U.S. banal scale futures took a deed connected Monday arsenic Treasury Secretary Scott Bessent's comments added to unease astir an economical slowdown, portion absorption was connected tariff-related signals from the Federal Reserve's upcoming meeting.

In a Sunday interrogation with NBC, Bessent warned that determination are "no guarantees" the United States volition flight a recession.

His remarks heightened existing anxieties astir the anticipation of an economical downturn successful the world's largest economy. President Donald Trump's tariff policies person intensified fears of a commercialized war-induced recession.

Trump has made it wide determination volition beryllium nary exemptions for alloy and aluminum tariffs, with reciprocal and sectoral tariffs poised to instrumentality effect connected April 2.

The Fed's complaint determination is slated for Wednesday, with marketplace expectations firmly anticipating that the U.S. cardinal slope volition support existent involvement rates, according to information compiled by LSEG.

All eyes volition beryllium connected immoderate indications from the Fed regarding economical maturation caution oregon rising ostentation concerns.

"FOMC participants volition person to rethink their projections present that the archetypal tariffs person taken effect and the White House looks acceptable to yet enforce larger tariffs," Goldman Sachs analysts said.

At 05:34 a.m. ET, Dow E-minis were down 187 points, oregon 0.45%, S&P 500 E-minis were down 24.75 points, oregon 0.44%, and Nasdaq 100 E-minis were down 87.75 points, oregon 0.45%.

Futures tracking the much domestically focused small-cap Russell 2000 scale mislaid 0.6%.

Last week, some the S&P 500 and the Nasdaq marked their 4th consecutive play declines, with the Dow besides experiencing a play drop.

The blue-chip Dow is teetering connected the brink of a correction, hovering astir 2% distant and down astir 8% from its all-time high.

The S&P 500 entered correction territory past week, pursuing Nasdaq connected March 6.

However, 2 encouraging ostentation reports offered immoderate respite from past week's wide Wall Street selloff.

That led to "dip buying" connected Friday, propelling the S&P 500 and the Nasdaq to their astir important one-day percent summation since November 6.

Megacap stocks slipped successful premarket commercialized connected Monday, with Microsoft and Amazon.com losing 0.7% and 0.3%, respectively, portion Tesla fell 1.8%.

Focus volition beryllium connected February's retail income study and the monthly New York Fed manufacturing data, some scheduled for 08:30 a.m. ET.

Eyes volition besides beryllium connected developments related to the Ukraine-Russia war, arsenic Trump planned to talk to Russian President Vladimir Putin connected Tuesday.

(Reporting by Pranav Kashyap successful Bangalore; Editing by Shounak Dasgupta)