U.S. stock index futures fell in early Asian trading as CPI data came in above expectations, intensifying concerns about Federal Reserve rate hikes.

Following the sharp sell-off in the U.S. stock market overnight, U.S. stock index futures continued to decline in early Asian trading on Thursday, after the release of September CPI data that came in above expectations, intensifying market concerns about further Federal Reserve rate hikes. S&P 500 index futures fell as much as 0.3%; Nasdaq 100 index futures fell as much as 0.7%. The S&P 500 closed down 1.1% on Wednesday, marking its largest single-day drop since July 29.