"Inflation concerns weigh on US futures: Stock market update"

Stocks fell on Wall Street as concerns about inflation revived, leading to doubts that the Federal Reserve will cut interest rates soon. The S&P 500 and Dow Jones Industrial Average were down around 0.9% and 0.7% respectively, while the tech-heavy Nasdaq Composite dropped over 1%. Rising oil prices and downbeat economic data from Europe and China added to worries about inflation and crumbling demand. However, the US services sector showed resilience, with the August PMI coming in higher than expected. Roku's stock soared after the company announced cost-cutting measures and raised its guidance.