U.S. stock futures declined Monday due to the problems connected with coronavirus.
The Dow Jones Industrial Average declined 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%.
The concerns continue to grow over the spread of a deadly coronavirus. Eighty people died based on the information provided by Chinese health officials. Moreover, there are more than 2,700 confirmed cases.
Unfortunately, this virus also reached other countries. According to 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.
Stock futures and other factors
As mentioned above, the virus continues to spread around the world. Four people in Japan were also diagnosed with this virus.
Investors are closely monitoring the situation as the virus outbreak is a serious challenge for the stock futures.
In this difficult situation, investors decided to invest in safe-haven assets such as gold. The price of one ounce increased by 0.9% to trade near $1,585.
The situation was also difficult in Asia. 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 are closed due to the Lunar New Year.
Major markets in Europe also have a bad day as they fell by roughly 2%. The luxury goods brand and travel stocks experienced the biggest problems.
As a reminder, China has one of the largest economies in the world. As a result, if the virus continues to spread in the country, this will have a serious impact on the stock futures around the world. This virus created additional pressure on the markets.