The Dow is set to open 300 points lower amid record daily U.S. Covid cases
Futures tied to major U.S. equity benchmarks fell on Monday as coronavirus infections jumped and negotiations for a fiscal stimulus package before the election came down to the wire.
Dow Jones Industrial Average futures fell 294 points, or 1.1%. The move implied an opening drop of more more than 300 points. S&P 500 futures lost 1%. Nasdaq 100 futures fell 0.8%.
The decline in futures came amid a record surge in new coronavirus cases in the U.S. The country saw more than 83,000 new infections on both Friday and Saturday after outbreaks in Sun Belt states, surpassing a previous record of roughly 77,300 cases set in July, according to data from Johns Hopkins University. The data also showed the country has reported an average of 68,767 cases per day over the past seven days, a record.