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The U.S. stock index futures fell on Monday as fears of economic damage grew in the markets due to various national lockdowns in an attempt to contain the pandemic.
Goldman Sachs predicted a 24% decline in US real GDP in the second quarter.
In early morning trade, the Dow e-minis dropped 3.64%, or 694 points; the S&P 500 e-minis fell 3.39%, or 77.5 points; the Nasdaq 100 e-minis plunged 2.79%, or 194.25 points.
SPDR S&P 500 ETFs also declined by 3.17%.
The S%P 500 index last traded at 2,304.92, after falling 4.34% on Friday.
Various states in the US have imposed restrictions and controlled non-essential movement by citizens in an attempt to contain the virus. Meanwhile, lawmakers discussed the economic aid package in Washington.
Total confirmed cases in the United States topped 33,000, with 3,600 new cases from the previous week and with a death toll of 390.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
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