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US pre-open: Futures point to losses as coronavirus deaths top 900

By Iain Gilbert

Date: Monday 10 Feb 2020

US pre-open: Futures point to losses as coronavirus deaths top 900

(Sharecast News) - US futures had stocks opening lower on Monday as market participants continued to monitor headlines related to the Wuhan coronavirus outbreak.
As of 1340 GMT, Dow futures were down 0.19%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.27% at 0.14% weaker, respectively.

The Dow closed 277.26 lower on Friday despite a stronger-than-expected reading on the US jobs market for January as companies around the world warned that the Wuhan coronavirus would impact their top and bottom lines.

Beijing revealed on Sunday that a total of 40,171 cases of coronavirus had been confirmed, while 908 people had died - including 14 Americans who tested positive aboard a cruise ship quarantined in Japan - and with the death toll now overtaking that of SARS, investors seemed to be taking a backseat ahead of the bell.

CMC Markets analyst David Madden said: "The bullish run that lasted most of last week seems like a distant memory.

"The surge in stocks was driven by the policies of the Chinese authorities, so now the positive sentiment is fading. The deepening health crisis is chipping away at market confidence."

No major economic data or corporate earnings were scheduled for release on Monday.


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