U.S. stock futures traded lower in early pre-market trade, after closing sharply lower for the previous week. The NY Empire State manufacturing index for June will be released at 8:30 a.m. ET. Federal Reserve Bank of Dallas President Robert Kaplan is set to speak at 11:00 a.m. ET.
The U.S. has the highest number of COVID-19 cases and deaths in the world. Total coronavirus cases in the U.S. exceeded 2,094,070 with around 115,730 deaths. Russia reported a total of at least 528,260 confirmed cases, while Brazil confirmed over 867,620 cases.
Futures for the Dow Jones Industrial Average dipped 544 points to 24,854 while the Standard & Poor’s 500 index futures traded fell 52.20 points to 2,971.50. Futures for the Nasdaq 100 index fell 150.75 points to 9,481.50.
Oil prices traded lower as Brent crude futures fell 2.5% to trade at $37.77 per barrel, while US WTI crude futures fell 3.7% to trade at $34.91 a barrel.
European markets were lower today, with the Spanish Ibex Index falling 2.7% and STOXX Europe 600 Index declining 2.4%. The UK’s FTSE index was trading lower by 2.2%, while French CAC 40 Index dropped 2.7% and German DAX 30 declined 2.7%.
In Asian markets, Japan’s Nikkei fell 3.47%, Hong Kong’s Hang Seng Index fell 2.26%, China’s Shanghai Composite Index dropped 1.02% and India’s BSE Sensex fell 2%.
