Futures fall following another day of losses after Fed rate hike, sell-offs - CNBC

Stock futures were lower on Friday to close out a losing week as investors fear the Federal Reserve's aggressive hiking campaign to fight inflation will lead to an economic downturn.

S&P 500 futures lost 0.9%.

Bond yields have soared this week on the Fed's actions with the 2-year and 10-year Treasury notes hitting highs not seen in more than a decade.

Lesko said more investors are starting to accept that a recession may be on the horizon after the Fed's decision this week to hike rates by 75 basis points and FedEx CEO Raj Subramaniam saying on CNBC last week that he believed one was imminent.

Once that happens, Lesko said investors will react differently.

Both the S&P and Nasdaq saw slightly sharper declines, falling 3% and 3.3%, respectively, week to date.

The latest threat to stocks now isn't any macro risk — it's rising 2-year Treasury yields, according to some fund managers and strategists.

Short-term, relatively risk-free Treasury bonds and funds are back in the spotlight as the yield on the 2-year Treasury continues to surge?

Stock futures were flat after another tumultuous day, as investors continue grappling with the Federal Reserve's decision to up rates and worries about the health of the economy.