Stock futures were lower in early morning trading Monday following a losing week as investors continued to grapple with the resurgence of Covid cases and an upcoming shift in the Federal Reserve’s easy monetary policy.
Futures on the Dow Jones Industrial Average dropped 455 points, or 1.29%. S&P 500 futures dipped 1.39% and Nasdaq 100 futures declined 1.28%.
The major averages are coming off a negative week, with the S&P 500 declining 1.9%. The tech-heavy Nasdaq Composite dropped nearly 3% last week as investors dumped high-flying growth stocks on the prospect of higher interest rates, while the Dow slipped 1.7%.
Some investors are hoping for a Santa Claus rally into the year-end, which calls for positive market performance in the last five trading days of the year and first two trading days of January,
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