U.S. equity futures are pointing to losses to start the week on concerns about a rebound in cases of coronavirus.” data-reactid=”12″>U.S. equity futures are pointing to losses to start the week on concerns about a rebound in cases of coronavirus.
The major futures indexes are indicating a decline of 3.8 percent or more than 900 Dow points as of 2:02 a.m. ET.
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Shares are lower following the worst week for Wall Street in nearly three months.
economic growth, which many skeptics have been saying were overly optimistic.” data-reactid=”16″>Stocks are turning wobbly as investors re-evaluate their expectations for economic growth, which many skeptics have been saying were overly optimistic.
ECONOMY IS ‘OFF TO THE RACES’ ON V-SHAPED RECOVERY: KUDLOW” data-reactid=”17″>ECONOMY IS ‘OFF TO THE RACES’ ON V-SHAPED RECOVERY: KUDLOW
Case numbers are still growing in various nations, including emerging economies, and without a vaccine, relaxing lockdowns and reopening travel could bring on further waves of COVID-19 cases.
In Asian markets on Monday, Japan’s benchmark Nikkei dropped 2.9 percent, Hong Kong’s Hang Seng fell 1.9 percent, while China’s Shanghai Composite was down 0.8 percent.
On Wall Street Friday, the S&P 500 rose 1.3 percent a day after dropping nearly 6 percent in its biggest rout since mid-March. It lost 4.8 percent for the week, snapping a three-week winning streak for the benchmark index.
The Dow Jones Industrial Average rose 1.9 percent and ended the week with a 5.6 percent loss after slumping nearly 7 percent on Thursday.
The Nasdaq, which climbed above 10,000 points for the first time on Wednesday, gained 1 percent.
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Benchmark U.S. crude oil lost $1.63 to $34.64 a barrel in electronic trading on the New York Mercantile Exchange. It fell 8 cents to settle at $36.26 a barrel Friday. Brent crude oil, the international standard, fell $1.22 to $37.51 a barrel.
The Associated Press contributed to this article.
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