us stock futures fell sharply on friday with investors increasingly nervous ahead of next week’s federal reserve meeting with a warning from fedex corp also weighing on sentiment on thursday the dow industrials djia closed 17327 points or 06 lower at 3096182 while the sp 500 spx dropped 4466 points or 11 to 390135 the nasdaq composite comp declined 16732 points or 14 to finish at 1155236 investors were weighing up fresh gloom from fedex fdx  with those shares down 20 in premarket after the global shipper late thursday withdrew its annual outlook called for sharply lower quarterly profit and lower revenue the ceo of fedex raj subramaniam told cnbc late thursday that the global economy was likely headed for a recession stock in rival ups inc ups slid 6 while retailers such as amazoncom inc amzn and target tgt were also lower fedex’s gloom appeared to spread overseas with deutsche post ag dpw and royal mail plc rmg both tumbling “the fact that fedex expects the us economy to enter into a recession has made traders trade carefully and there aren’t many who are willing to buy the market” said naeem aslam chief market analyst at avatrade in a note to clients “it is highly likely that we will see a similar message from other companies in the coming days as well and that may make the overall sentiment even more adverse the fact is that more and more ceo are feeling pessimistic about the global economy and this may not be the best environment for global markets to do well” aslam another blow came from ge ge  whose shares fell 4 in premarket trade after the company’s chief financial officer carolina happe said at an investor conference that continued supplychain pressures were putting the congomerate under pressure read ftc sends a warning to uber lyft doordash and other ‘gigwork’ companies investors have endured a tough week that included the worst losses since june 2020 for stock markets on tuesday after a surprise jump in consumer prices that has many nervously looking towards next week’s federal reserve meeting some forecasts are even calling for a 100 basispoint hike next week the dow industrials was poised for a 37 weekly loss as of thursday while the sp 500 was down 4 and the nasdaq 46 according to factset research thursday’s data was a mixed bag with us retail sales and weekly jobless claims offering signs that the economy is still holding steady though two regional gauges of manufacturing slightly contracted the only data on tap is the university of michigan’s consumer sentiment index due at 10 am eastern with the report’s inflation expectations reading set to be closely eyed technology stocks were again expected to lead the way south on friday as the twoyear treasury yield continued to trade more than 40 basis points above that of the 10year yield that socalled inversion often suggests market participants are expecting an economic slowdown the yield on the 2year treasury note was set for a seventh straight gain on friday  a day after reaching its highest level since october 2007 the 2year yield tmubmusd02y was last up 4 basis points to 3901 while the 10year yield tmubmusd10y was up 1 basis point to 3465 jittery investors continued to push the dollar dxy higher with the british pound gbpusd dropping below 114 for the first time in 37 years the currency’s weakness was exacerbated by weakerthanexpected retail sales data