US Equity Futures It rose cautiously before Tuesday’s trading session.

ribbon Safety the last They change They change%
I am: DJI Dow Jones averages 30223.89 -382.59 -1.25%
SP500 Standard & Poor’s 500 3700.65 -55.42 -1.48%
I: COMP Nasdaq Composite Index 12698.447144 -189.84 -1.47%

US stocks retreated from recent record highs on Monday, on the first day of trading in the new year, as big volatility returns to Wall Street at the start of the year as the prevailing expectation is a strong economic recovery sweeping the globe.

“With new cases still stalling for an average of seven days in the 600K region globally, few of them are likely to expect the market to spare the market renewed Covid-19 concerns,” said Jingy Pan, chief market analyst at IG Singapore.

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Certainly, with the merging of factors ranging from the UK’s third nationwide lockdown announcement, the number of hospital admissions rising to a record high, and Tokyo’s contemplation of an emergency, these were all evidence that the pandemic was still raging, spurring the mood. To take away risks to start the year for US indices, “Pan said.

The S&P 500, which ended 2020 at an all-time high, fell 1.5% after earlier dropping as much as 2.5%. This was the biggest drop for the benchmark since late October. Technology companies accounted for a large share of the sales, along with industrial stocks, telecom services, healthcare and other stocks. Only the S&P 500 power sector managed to gain.

The sale comes at a time when Coronavirus cases continue to rise at alarming rates around the world, threatening to bring in more lockdown orders that would punish the economy. The worsening numbers also increase the possibility that Wall Street is overly optimistic about the major economic recovery that it expects due to COVID-19 vaccines. The upcoming run-off election on Tuesday to determine which party controls the Senate may also contribute to the volatility.

“We are starting the year with a swing here,” said Lindsay Bell, senior investment analyst at Ally Invest. Investors are looking for a reason to profit. Maybe the sale is a little overrated. “

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The S&P 500 fell 55.42 points to 3,700.65. The Dow Jones Industrial Average fell from a record high last week, down 1.3% to 30,223.89. At one point, it was down 724 points. The heavy Nasdaq composite index lost 1.5% to 12,698.45.

Small cap stocks, which have posted strong gains in recent weeks, have also declined. The Russell 2000 Index of Smaller Companies declined 1.5% to 1945.91.

Investors were hoping that vaccines would allow daily life around the world to slowly return to normal. This helped spark the recent recovery of corporate stocks linked to travel, small businesses and other industries that the pandemic has often left behind.

In the United States, regulators have already approved two other vaccines. China last week gave the green light for its first domestically developed vaccine. Others are also being tested.

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Asian stocks were mixed on Tuesday, as Japanese stocks repeated declines on Wall Street while other regional indices recouped their previous losses amid persistent concerns about a spike in coronavirus cases.

Japan’s Nikkei 225 index fell 0.4% to 27,159.27 as the government gears up to declare a state of emergency in Tokyo and many surrounding areas.

The Australian S & P / ASX 200 fell less than 0.1% to 6681.90. South Korea’s Kospi rose 1.0% to 2975.05, while Hong Kong’s Hang Seng rose 0.4% to 27,577.74. The Shanghai Composite Index rose 0.5% to 3521.75.

The Japanese prime minister said that the government is considering declaring a state of emergency to help curb the spread of infection. A move is expected this week. Tokyo Governor Yuriko Koike and Saitama, Chiba and Kanagawa governors asked the national government over the weekend to declare a state of emergency after the capital saw a daily record of 1,337 cases on New Year’s Eve.

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In energy trading, benchmark US crude lost 20 cents to $ 47.42 a barrel in electronic trading on the New York Mercantile Exchange. It lost 92 cents to $ 47.62 on Monday.

Brent crude, the international benchmark, fell 26 cents to $ 50.83 a barrel.

In currency trading, the US dollar fell to 102.95 yen from 103.13 yen on Monday evening. The euro was at $ 1.2269, up from $ 1.2249.

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Business writer contributed to AP Business, Stan Choi and Alex Vega.

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