U.S. stock futures pointed to another day of losses Friday as investors absorbed the message of Fed Chair Jerome Powell that the central bank may not pursue rate cuts aggressively. Dow Jones Industrial Average futures fell 204 points, or 0.5%, to 43697.

U.S. stocks slipped Thursday as the market’s big burst following Donald Trump’s election continued to cool. The S&P 500 fell 0.6%, though it’s still near its all-time high set on Monday. The Dow Jones Industrial Average dropped 207 points,

A gauge of global stocks was poised for its biggest weekly drop in two months while U.S. Treasury yields continued their ascent as economic data and comments from Federal Reserve officials pointed to a slower pace of rate cuts ahead.

December S&P 500 E-Mini futures (ESZ24) are down -0.58%, andDecember Nasdaq 100 E-Mini futures (NQZ24) are down -0.90% this morning after Federal Reserve Chair Jerome Powell indicated the central bank was in no rush to lower interest rates,