Dow Futures Plunge 900pts on Fears of 2nd Wave as Global Cases Near 8 Million!

Dow Futures Plunge 900pts on Fears of 2nd Wave as Global Cases Near 8 Million!

Dow Jones Futures dropped more than 900 points ahead of the Monday session amid rising new coronavirus cases across the U.S. after the lockdown easing.

 

As of 13:26 local time in Thailand (GMT+7), Dow Jones Futures dropped 917 points or 3.61% to 24,481 points. S&P 500 Futures plunged 3.05% and Nasdaq Futures lost 2.50%.

 

The U.S. stocks mostly declined last week before a slight gain on Friday due to concerns over the second wave of the coronavirus outbreak, in which some states were reporting an uptick of new cases, especially Arizona, Texas and Florida. Meanwhile, the Fed’s statement of maintaining the policy rate at near-zero through 2022 concerned investors over the severity of the U.S. economy and the ability to recover from the loss.

The U.S. is still the country with most coronavirus cases and deaths in the world, sitting on 2.1 million cases and 115,525 deaths as the total case in global is about to reach 8 million.