US futures fall and oil hovers at $100 as recession fears stalk markets

As markets weighed up the threats of inflation and recession, US stock futures and oil fell.

As of 5.35 a.m., the S&P 500 was down 0.12%. There is an hour and a half later. The futures of the two major stock exchanges had fallen.

After plunging through the $100 mark on Tuesday, the US benchmark oil price rose 0.81% to $100.32 a barrel. The global benchmark rose to $104. 24 a barrel.

The likelihood of a recession is being increased by inflation and central bank strategies to get prices in check.

If a recession happens, oil demand will fall and prices will go up.

The dollar hit a 20-year high against a basket of other currencies as investors moved into the safe-haven currency. Oil is priced in dollars, so a stronger dollar makes it less valuable. The dollar increased in value to 106.69.

The stock market in Europe rebounded on Wednesday after falling the previous day.

Two senior members of Prime Minister Boris Johnson's cabinet resigned in a blow to the leader.

Japan's Nikkei 225 fell 1.2% and China's CSI 300 dropped 1% overnight.

The employment report for June will be released on Friday. Even though inflation is at a 41-year high, the Federal Reserve is allowed to keep raising interest rates.

The US economy is expected to have added fewer jobs in June than in May.

Andrew Hunter, senior US economist at Capital Economics, said that they expected payroll employment growth to slow in June, but remained strong at 250,000. It should be enough to keep the Fed on track for another hike in July.

The yield on the Treasury note went up. The yield on bonds has fallen in recent days as investors seek the safety of government debt.

Around $20,000 was1-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-6556 was1-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-65561-6556 The price of the virtual currency was down 1% to $20,180.