Stock futures plummet to begin new week on coronavirus concerns

U.S. equity futures are pointing to losses to start the week on concerns about a rebound in cases of coronavirus.

The major futures indexes are indicating a decline of 3.8 percent or more than 900 Dow points as of 2:02 a.m. ET.

Shares are lower following the worst week for Wall Street in nearly three months.

Stocks are turning wobbly as investors re-evaluate their expectations for economic growth, which many skeptics have been saying were overly optimistic.

Case numbers are still growing in various nations, including emerging economies, and without a vaccine, relaxing lockdowns and reopening travel could bring on further waves of COVID-19 cases.

In Asian markets on Monday, Japan's benchmark Nikkei dropped 2.9 percent, Hong Kong's Hang Seng fell 1.9 percent, while China's Shanghai Composite was down 0.8 percent.

On Wall Street Friday, the S&P 500 rose 1.3 percent a day after dropping nearly 6 percent in its biggest rout since mid-March. It lost 4.8 percent for the week, snapping a three-week winning streak for the benchmark index.

The Dow Jones Industrial Average rose 1.9 percent and ended the week with a 5.6 percent loss after slumping nearly 7 percent on Thursday.

The Nasdaq, which climbed above 10,000 points for the first time on Wednesday, gained 1 percent.

Benchmark U.S. crude oil lost $1.63 to $34.64 a barrel in electronic trading on the New York Mercantile Exchange. It fell 8 cents to settle at $36.26 a barrel Friday. Brent crude oil, the international standard, fell $1.22 to $37.51 a barrel.

The Associated Press contributed to this article.

Reprinted from https://finance.yahoo.com/news...，the copyright all reserved by the original author.