Stock futures tied to the Dow Jones Industrial Average pointed to an opening decline of 500 points this morning. Futures on the S&P 500 and the Nasdaq also sunk a great deal this morning, as investors weighed the implications of increasing virus cases.
This news comes after each of the major benchmarks logged declines last week, with the Nasdaq falling 1.87%, the Dow decreasing 0.52%, and the S&P 500 trimming 0.97%.
Investors this week will receive corporate earnings reports from the likes of Netflix, United Airlines, and Chipotle.
Meanwhile, the special purpose acquisition company, known as Pershing Square Tontine Holdings, has backed out of a deal to buy 10% of Vivendi’s Universal Music Group.
“We underestimated the reaction that some of our shareholders would have to the transaction’s complexity and structure,” said Bill Ackerman, who backs the company.