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U.S. Stock Futures Fall Amid Concern Over Rising Infections

imageStock Markets8 hours ago (Jun 17, 2020 11:45PM ET)

(C) Reuters. U.S. Stock Futures Fall Amid Concern Over Rising Infections

(Bloomberg) — U.S. stock index futures fell as a rising virus cases in Beijing and some states in America weighed on investors.

September contracts on the S&P 500 fell 1.2% as of 11:27 a.m. in Tokyo, while futures on the Nasdaq 100 Index and Dow Jones Industrial Average declined 1% and 1.4%, respectively. Beijing announced 21 new cases Thursday, presenting the biggest challenge yet in China’s efforts to prevent a second wave of infections. U.S. states including Texas, Florida and Arizona reported a jump in infections. The won weakened for a second day against the dollar as South Korea warned the North against further provocations.

“With Covid-19 filling the airwaves and geopolitical angst dotting the Korean landscape, the market is taking a decidedly defensive posture,” Stephen Innes, chief market strategist at AxiCorp Ltd., wrote in a note.

The underlying S&P 500 Index swung between gains and losses for most of Wednesday before turning red late, with the energy, real estate and financial sectors leading the declines.

(C)2020 Bloomberg L.P.

U.S. Stock Futures Fall Amid Concern Over Rising Infections

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