By Janet H. Cho

Stock futures were falling late Sunday as investors prepare for a week that features another interest rate decision by the Federal Reserve.

This weekend, President Donald Trump ordered pre-emptive airstrikes on Houthi militants in Yemen on Saturday, prompting concerns about the rebel group's vows of retaliation and the potential for a wider escalation of the conflict.

At 6:10 p.m. Eastern time on Sunday, Dow Jones Industrial Average futures were down 129 points, or 0.3%; S&P 500 futures were down 0.4%; Nasdaq Composite futures were down nearly 0.5%.

Stocks are poised to extend last week's losses. The Dow last 3.1% for the week, while the S&P 500 fell 2.3%, and the Nasdaq dropped 2.4%.

The Dow posted its largest two-week point and percentage drop since September 2022, according to Dow Jones Market Data. The blue chip index is down 2.5% so far this year.

The S&P 500 has now been down four straight weeks, its largest four-week point decline since the week ending April 3, 2020, during the Covid-19 pandemic. It is down 4% so far this year.

The Nasdaq is also down four straight weeks, its largest four-week point decline since the week ending March 20, 2020, also during the pandemic. It has fallen 8.1% this year.

This week's economic highlights include the Fed's interest-rate decision on Wednesday, followed by Fed Chair Jerome Powell's first public comments since the S&P 500 entered correction territory last week and consumer sentiment dropped for the third straight month.

The Fed is widely expected to keep the benchmark rate unchanged at the current range of 4.25% to 4.50%, with 99% expecting no change, according to the CME FedWatch tool. It will also release its latest Summary of Economic Projections.

Other economic data this week include the Census Bureau's retail sales report for February and the Federal Reserve Bank of New York's Empire State Manufacturing Survey for March, both on Monday, and the Federal Reserve Bank of Philadelphia's Manufacturing Business Outlook Survey for March on Thursday.

Housing data coming out this week includes the National Association of Home Builders' Housing Market Index for March on Monday; the Commerce Department's housing starts and building permits for February on Tuesday; and the National Association of Realtors' existing-home sales for February on Thursday.

Write to Janet H. Cho at janet.cho@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

March 16, 2025 18:31 ET (22:31 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.