US Stocks Kick Off 4th Straight Session of Losses, Nasdaq Falls 1% as Rising Oil, Yields and ECB Rate Hike Fuel Fed Tightening Expectations. The S&P 500 dropped 0.6% and the Dow Jones Industrial Average shaved 0.5%, or 266 points. Futures turned lower in premarket trading after wholesale inflation growth rose as expected in August, and investors adjusted expectations that the Federal Reserve will likely follow suit after the European Central Bank announced a 25 basis-point hike.