U.S. stock index futures tumbled on Monday as a recent jump in coronavirus cases in China and parts of the United States doused investor hopes of ...
REUTERS: U.S. stocks dropped on Monday after a spike in new coronavirus cases in China and parts of the United States dampened hopes of a swift economic recovery that had driven a sharp rise in Wall Street's main indexes over the past month.
"When we see a pullback like today, it's just the enthusiasm dying down a little bit and people waiting to get a better understanding on this increase in infection rates," Anthony Denier, chief executive officer of online broker Webull Financial LLC in New York. The S&P 500 index opened below its closely watched 200-day moving average of 3,014.41 points. It is also flirting with the psychologically important level of 3,000 points.At 11:15 a.m. ET, the Dow Jones Industrial Average was down 274.09 points, or 1.07per cent, at 25,331.45, the S&P 500 was down 22.58 points, or 0.74per cent, at 3,018.73. The Nasdaq Composite was down 21.99 points, or 0.23per cent, at 9,566.82.
United Airlines said it is pledging its MileagePlus frequent flyer program for a new US$5 billion loan aimed at further buffering its liquidity, even as its cash burn rate slows thanks to a steady improvement in demand.
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