U.S. futures fell after COVID restrictions
U.S. stock futures went under early today after an active day that showed the Dow Jones Industrial Average falling 400-points.
Futures contracts attached to the Dow were weaker by 167 points, while the S&P 500 futures remained under the flatline. Nasdaq 100 futures were also in moderately negative territory.
The weakness in futures arose because Congress yesterday night passed the coronavirus assistance and government spending package. The act now moves to President Donald Trump’s desk.
During yesterday’s normal market hours, stocks started sharply lower amid fears surrounding a new mutation of Covid-19 in the United Kingdom.
Many European countries executed travel limitations on visitors from the U.K., and New York Gov. Andrew Cuomo requested from the United States to take similar actions.
Still, many experts, including those from the World Health Organization, announced yesterday that the coronavirus vaccines from Pfizer and Moderna would probably be sufficient versus the new variant and that Covid was mutating at a slower speed than the seasonal flu. The Dow ended with a profit of 37 points, thanks in part to strong performance bank stocks. The S&P 500, Nasdaq Composite, and stocks attached to the travel industry ended well off their session lows.
