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Wall Street traders to mull Fed, Apple aftermath

U.S. stock-index futures fell on Wednesday, as fears that the Federal Reserve could raise interest rates sooner rather than later pressured Asian and European indices.

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Wall Street on Tuesday took its cues from rising sovereign bond yields, after research from the San Francisco Fed suggested that investors' expectations for rate hikes lagged those of the central bank.

The Dow Jones Industrial Average ended down 0.6 percent on Tuesday while the S&P500 fell 0.7 percent. The Nasdaq lost 0.9 percent.

The Mortgage Bankers Association on Wednesday reported applications for home mortgages declined last week as interest rates rose.

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Apple declined ahead of the open after Pacific Crest Securities downgraded its shares to perform from outperform, citing a "lack of compelling features" on the Apple Watch.

Manchester United fell in early New York trading after the British soccer club reported a fourth-quarter loss.


—By CNBC's Katy Barnato