U.S. stock futures faced pressure amid concerns about inflation and rate hikes, with major indexes fluctuating in early trade. The Consumer Price Index data showed a 2.9% year-over-year increase, leading to a shift in market sentiment and expectations for Fed rate cuts. This recalibration caused a selloff in Treasuries, pushing yields higher. Dow, S&P 500, and Nasdaq futures reacted to the Fed shift, with tech stocks falling and defensive sectors seeing modest bids. Global markets were also mixed, and the dollar extended gains against other currencies. Market focus remains on Fed speeches and economic data to assess inflation trends and market direction.

Read more at Investing.com: Markets Wobble as Fed Cut Hopes Fade on Hot Inflation