U.S. stock futures fell Friday morning as the S&P 500 tries to snap a 4-week losing streak caused by trade policy turmoil, recession fears and a rollover in megacap technology shares. Futures tied to the S&P 500 were down by 0.2%. Dow Jones Industrial Average futures lost 111 points, or about 0.3%. Nasdaq 100 futures slipped 0.3%. The action follows a losing session for the major averages. On Thursday, the S&P 500 slipped 0.2%, while the Nasdaq Composite dropped 0.3%. The 30-stock Dow lost 11.31 points, or 0.03%. Nevertheless, the S&P 500 is on pace for a 0.4% advance week to date, and it’s about to break a four-week losing streak. The benchmark briefly fell into correction territory at one point during the monthlong rout. It sits about 8% from its record high going into Friday, short of the 10% correction level, as it tried to mount a comeback from the turmoil. The bulk of the market’s gains came on Wednesday when Federal Reserve policymakers kept their forecast for two rate cuts this year. Still, the Fed also raised its inflation outlook and trimmed its economic growth expectations. The new forecast raised the specter of stagflation – a scenario of rising inflation as the economy’s growth slows. Uncertainty around President Donald Trump’s tariff policies has rattled stocks in recent weeks, and Fed Chair Jerome Powell noted that tariffs may “delay” progress on inflation. Tariff worries are also weighing on companies, according to Michael Green, chief strategist at Simplify Asset Management. “Companies are increasingly citing confusion and uncertainty around their planning and capital spending and hiring decisions — and when they pause, it means that they’re slowing down,” he said. “There’s an element of that playing out in the markets.” FedEx shares were weighing on sentiment, with shares of the important transportation company to the economy down 7% in early trading Friday. FedEx cut its earnings outlook, citing “weakness and uncertainty in the U.S. industrial economy.” Nike shares were off by 5% in premarket trading after the shoe and apparel giant said sales this quarter would miss analysts’ expectations because of tariffs and falling consumer confidence. The Dow is on track for a 1.1% gain this week, marking its best weekly performance since late January. The Nasdaq, however, is off about 0.4% in the period, heading for its fifth straight losing week and its longest stretch of weekly losses since May 2022. U.S. Treasury yields were lower on Friday amid ongoing uncertainty looming over the U.S. economy and inflation levels as President Donald Trump presses ahead with his trade tariff campaign. The benchmark 10-year Treasury note yield slipped more than 2 basis points to 4.21%, and the 2-year Treasury yield was more than 1 basis point lower at 3.938%. Hong Kong markets fell over 2% on Friday as Asia-Pacific markets traded mixed, due to uncertainty around the U.S. economy. Hong Kong’s Hang Seng Index slid 2.19% and ended at 23,689.72, dragged by healthcare and consumer cyclical stocks, while mainland China’s CSI 300 fell 1.52% to close at 3,914.7. Japan’s Nikkei 225 fell 0.2% to 37,677.06, and the broad-based Topix added 0.29% to close at 2,804.16, notching a seven-day winning streak. The Topix had earlier hit an intraday high of 2,818.04, its highest level since July 2024. South Korea’s Kospi added 0.23% to 2,643.13 and marked five straight days of gains, while the small-cap Kosdaq dipped 0.79% to end at 719.41. Australia’s S&P/ASX 200 traded 0.16% higher, closing at 7,931.2. Oil prices rose in early Asian trading on Friday, and were set for their second consecutive weekly gains, after fresh U.S. sanctions on Iran and a new OPEC+ plan for seven members to cut output raised bets on tightening supply. Brent crude futures climbed 42 cents, or 0.6%, to $72.40 per barrel by 0026 GMT. U.S. West Texas Intermediate crude futures were up 45 cents, or 0.6%, to $68.52 a barrel. On a weekly basis, both Brent and WTI were on track to rise about 2%, their biggest weekly gains since the first week of 2025. Gold prices retreated on Friday as the dollar firmed and investors booked profits after bullion hit three successive all-time peaks this week, buoyed by safe-haven demand amid trade war concerns and hopes of a rate cut by the Federal Reserve later this year. Spot gold was down 0.4% to $3,033.36 an ounce. U.S. gold futures eased 0.1% to $3,039.60. Bullion was on track for a third straight weekly gain, having added 1.6% so far this week. It hit an all-time high of $3,057.21 per ounce on Thursday. The U.S. dollar was up 0.2% on Friday making greenback priced bullion more expensive for overseas buyers.