The situation regarding the virus outbreak in China caused serious problems for the U.S. stock futures. This virus continues to spread around the world.
Four people in Japan were diagnosed with this coronavirus.
In this situation, it is not surprising that investors are looking for other options such as gold. On Monday, the price of one ounce increased by 0.9% to trade near $1,585.
Investors are closely monitoring the situation as the virus outbreak is a severe challenge for the stock futures.
In Japan, the Nikkei 225 ended its trading day with a loss of 2%. It is important to note that it was the only major stock market in East Asia that worked on Monday. Other markets were closed due to the Lunar New Year.
Major markets in Europe had a bad day as the indexes fell by roughly 2%. The luxury goods brand and travel stocks experienced the biggest problems.
U.S. stock futures on January 27
U.S. stock futures declined Monday due to the problems connected with coronavirus.
For example, the Dow Jones Industrial Average fell by as much as 500 points. Meanwhile, The S&P 500 futures fell 1.6%. Moreover, the Nasdaq Composite futures declined by about 2.1%.
According to Chinese health officials, eighty people died. Moreover, there are more than 2,700 confirmed cases.
As mentioned above, this virus also reached other countries. The Centers for Disease Control and Prevention confirmed a fifth case of the virus in the U.S. All of them recently traveled to Wuhan, China, the epicenter of the outbreak.
It is very hard to say when authorities in China and abroad will be able to eliminate this virus as it continues to spread around the world. In this situation, stock futures are under the risk of losing even more points due to the concerns about this virus.