Futures extend losses on bank worries, economic data in focus

By Amruta Khandekar and Shubham Batra (Reuters) – U.S. stock index futures dropped more than 1% on Wednesday amid concerns about a banking crisis, while investors awaited economic data for more clues on the Federal Reserve’s monetary tightening plans. Fresh worries related to Swiss bank Credit Suisse bruised investor sentiment, with U.S.-listed shares of the bank sliding 21.9% and set to open at a record low, after its largest investor said it could not provide more financial assistance to the lender. After the collapse of SVB Financial and peer Signature Bank, assurances and emergency measure…

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