US STOCKS-Futures edge lower after treasury secretary's comments; eyes on upcoming Fed meet

(For a Reuters live blog on U.S., UK and European stock markets, click (LIVE/) or type LIVE/ in a news window) Intel up after report new CEO plots overhaul of manufacturing, AI operations Retail sales, New York Fed manufacturing data on tap OECD lowers global growth forecast due to trade tensions Futures down: Dow 0.24%, S&P 500 0.17%, Nasdaq 0.11% (Updates with report on Intel) By Pranav Kashyap and Johann M Cherian March 17 (Reuters) - U.S. stock index futures dipped on Monday as Treasury Secretary Scott Bessent’s comments added to unease about an economic slowdown, while focus was on tariff-related signals from the Federal Reserve’s upcoming meeting. In a Sunday interview with NBC, Bessent warned that there are “no guarantees” the United States will escape a recession. His remarks heightened existing anxieties about the possibility of an economic downturn in the world’s largest economy. President Donald Trump’s tariff policies have intensified fears of a trade war-induced recession. Trump has made it clear there will be no exemptions for steel and aluminum tariffs, with reciprocal and sectoral tariffs poised to take effect on April 2. The Fed’s rate decision is slated for Wednesday, with market expectations firmly anticipating that the U.S. central bank will maintain current interest rates, according to data compiled by LSEG. All eyes will be on any indications from the Fed regarding economic growth caution or rising inflation concerns. “FOMC participants will have to rethink their projections now that the first tariffs have taken effect and the White House looks set to eventually impose larger tariffs,” Goldman Sachs analysts said. At 07:01 a.m. ET, Dow E-minis (1YMcv1) were down 100 points, or 0.24%, S&P 500 E-minis (EScv1) were down 9.5 points, or 0.17%, and Nasdaq 100 E-minis (NQcv1) were down 20.75 points, or 0.11%. Futures tracking the more domestically focused small-cap Russell 2000 index (RTYcv1) lost 0.4%. Trump’s tariff hikes will drag down growth in Canada, Mexico and the U.S. while driving up inflation, the OECD forecast on Monday, cutting its global economic outlook and warning that a broader trade war would sap growth further. Focus will also be on February’s retail sales report and the monthly New York Fed manufacturing data, both scheduled for 8:30 a.m. ET. Last week, both the S&P 500 (.SPX) and the Nasdaq (.IXIC) marked their fourth consecutive weekly declines, with the Dow also experiencing a weekly drop. The blue-chip Dow (.DJI) is teetering on the brink of a correction, hovering about 2% away and down roughly 8% from its all-time high. The S&P 500 entered correction territory last week, following Nasdaq on March 6. However, two encouraging inflation reports offered some respite from last week’s widespread Wall Street selloff. That led to “dip buying” on Friday, propelling the S&P 500 and the Nasdaq to their most significant one-day percentage gain since November 6. Megacap stocks slipped in premarket trade on Monday, with Microsoft (MSFT.O) and Apple (AAPL.O) losing 0.4% and 0.3%, respectively. Tesla (TSLA.O) slipped 1%. A report showed brokerage Mizuho lowered its price target on the stock. Intel (INTC.O) rose 1.8% after a report said incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing methods and artificial intelligence strategies ahead of his return to the company. Eyes will also be on developments related to the Ukraine-Russia war, as Trump planned to speak to Russian President Vladimir Putin on Tuesday.