US Markets Dive as Dow Braces for Worst Week Since January

U.S. stock futures fell on Friday as the S&P 500 and the Dow Jones Industrial Average are on pace to post a losing week after the Federal Reserve’s latest policy update.

Futures for the Dow Jones Industrials dumped 159 points, or 0.5%, to 33,534.

Futures for the S&P 500 lost 14.25 points, or 0.3%, to 4,198.

Futures for the NASDAQ Composite dropped 14.75 points, or 0.1%, to 14,141.50.

The blue-chip Dow has lost 1.9% week to date, on pace for its worst week since January. The S&P 500 has fallen 0.6%. But the NASDAQ has gained 0.7% on the week.

Most commodities prices rebounded a bit on Friday following sharp declines this week as China attempts to cool rising prices and the U.S. dollar strengthens. Futures prices for copper, gold, and platinum rebounded Friday, but were still down big for the week.

The Friday bounce in prices helped push some materials stocks higher in early trading. Newmont gained nearly 2% in pre-market trading.

Chip stocks, which have had a good week, looked set to continue their run on Friday with shares of Nvidia higher by about 1% in pre-market trading.

Adobe shares gained about 3% in pre-market trading after earnings and revenue topped estimates.

Overseas, in Japan, the Nikkei 225 docked 0.2%, while in Hong Kong, the Hang Seng index gained 0.9%.

Oil prices fell 67 cents to $70.37 U.S. a barrel.

Gold prices gained $19.20 to $1,794 U.S.

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