Dow futures drop 500 points, pressured by worries over a new viral Covid strain in the U.K.
Stock futures traded deep in the red early Monday as enthusiasm over a coronavirus stimulus deal was overwhelmed by worries over a viral new Covid strain in the U.K.
Futures on the Dow Jones Industrial Average pointed to an opening drop of more than 500 points. Dow futures lost 1.8%. S&P 500 futures shed 2% and Nasdaq 100 futures fell 1.3%
Travel-related stocks came under pressure on news of an infectious new coronavirus strain in the U.K., which triggered more severe lockdowns and travel restrictions across Europe.
Norwegian and Royal Caribbean cruise lines shares each dropped more than 9% in premarket trading. Delta Air Lines lost 8% in early trading. Shares of companies that would be hit by stricter lockdown measures fell, including Wynn Resorts and Gap.
The losses came even as lawmakers have reached an agreement on a $900 billion relief package, which would provide direct payments and jobless aid to struggling Americans. Read More











