In the long run, futures held during overnight transactions, after the S&P 500 suffered its first decline, which began a year in 2016.
Dow Jones industrial average futures fell 10 points. The S&P 500 futures were fixed and the Nasdaq 100 futures fell below 0.1%.
Movements in the future came after a sudden sale on Wall Street to start 2021. The S&P 500 fell 1.5%, recording the weakest daily performance since October 27. Ten of the 11 S&P 500 sectors recorded real estate losses. .
The Dow blue chip fell 382 points after falling to 700 points on the day’s low. Nasdaq Composite fell 1.4% as the FAANG bloc fell to start the new year.
The widespread sale of the market took place before the big election in Georgia, which will determine whether Republicans can maintain control in the Senate. Meanwhile, the increase in Covid-19 cases globally and the new blocking restrictions continued to keep investors afloat.
“Investors are upset this week,” Lindsey Bell, chief investment strategist at Ally Invest, said in an email. “COVID cases continue to rise, with a new variant of the virus spreading around the globe. Tomorrow’s leaks in Georgia could decide the structure of the Senate, and the market as a whole has performed better in a divided Congress.”
Many fear that rising tax rates and more progressive policies could become a reality if Democrats gain control of the Senate. However, such an outcome could create an opportunity for a larger and faster spending package that will help support the market.
“Even if Democrats gain control, the margin will be remarkably thin, and analysts are skeptical about whether a significant change in fiscal or regulatory policy is possible,” said Mark Hackett, head of national investment research. a note. “Democratic scrutiny could, however, trigger a new round of stimulus for coronavirus and potentially an infrastructure package.”
On Monday, England imposed a third coronavirus blockade, as the region faces a more transmissible variant of Covid-19. New York State has confirmed the first case of the new strain, Gov. Andrew Cuomo said Monday.
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