The S&P 500 futures are down 42 points and are trading 1.1% below fair value.
The Nasdaq 100 futures are down 189 points and are trading 1.6% below fair value.
The Dow Jones Industrial Average futures are down 278 points and are trading 0.8% below fair value.
Equity indices in the Asia-Pacific region ended the midweek session on a mixed note while markets in China and Hong Kong remained closed for Lunar New Year. Australia’s CPI was up 7.8% yr/yr in Q4, representing the sharpest rate of growth since 1990. ANZ lowered its forecast for the next Reserve Bank of Australia rate hike to 50 bps from 75 bps. The bank expects a terminal rate of 5.25%. Former Bank of Japan policymaker Maeda said that the new BoJ governor is likely to start phasing out yield curve control policy.