The US stock futures dropped on Sunday night, pointing to more losses in the morning.
Futures contracts tied to the Dow Jones Industrial Average lost about 430 points in overnight trading. The S&P 500 and Nasdaq 100 futures also dipped 1.9 and 1.6 percent, respectively.
Meanwhile, the major US stock indexes have experienced their worst week since mid-March, the peak of coronavirus outbreak in the world. The Dow fell 5.5 percent, while the S&P 500 and the Nasdaq dropped 4.7 and 2.3 percent, respectively.
The current week’s slide came largely from Thursday’s selloff, as total US COVID-19 cases topped 2 million, with a jump in infections reported in at least five states — New Mexico, Oregon, Florida, Texas, and Arizona — after five weeks of declines across the country.
Investors are concerned about reports of the second wave of coronavirus and a prolonged period of up to two years for the world’s largest economy to recover from the pandemic.
At the same time, Treasury Secretary Steven Mnuchin told CNBC News on Thursday that shutting down the economy for the second time to curb the spread of the virus would only “create more damage”.