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The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to see further downside after starting the new year on a downbeat note.
Reflecting renewed uncertainty about the outlook for interest rates, stocks have moved mostly lower during trading on Wednesday. The major averages have all moved to the downside, with the tech-heavy Nasdaq falling for the fourth consecutive session.
After coming under pressure early in the session, stocks have regained some ground over the course of the trading day on Wednesday but remain mostly lower. Currently, the major averages are off their worst levels of the day but still firmly in negative territory.
Federal Reserve officials said in December that it was possible the economy could evolve in a manner that would make further rate hikes appropriate.
Shares of banks and other financial institutions fell slightly after minutes from the Federal Reserve December meeting left open the question of when the central bank will begin cutting interest...