Investors are also concerned about the results of the upcoming presidential election.
Futures on US stock indexes on Wednesday showed a decline amid concerns about a new quarantine in connection with the growing number of cases of coronavirus infection around the world, as well as concerns about the results of the US presidential election.
In the run-up to the opening of trading on Wall Street, shares of companies vulnerable to quarantine restrictions, Wynn Resorts, and United Airlines Holdings, lost more than 1 percent. Shares of energy companies such as Occidental Petroleum fell 2.8 percent on concerns about fuel demand.
In the US Midwest, new infections and hospital admissions are growing at a record pace. In Europe, concerns about a full-scale quarantine in France are sapping investors ‘ appetite for risk.
The pandemic, increased unemployment, and US lawmakers’ failure to agree on new financial incentives before the election led the S&P 500 index and the high-tech Nasdaq to close at their lowest levels in three weeks on Tuesday.
The Wall Street anxiety index rose to its highest level in nearly two months as investors fear a disputed election result.
According to a Reuters/Ipsos poll, Democratic candidate Joe Biden is on average 10 percentage points ahead of President Donald Trump. Still, the competition is tougher in the swing states that will determine the outcome of the election.
Mini Dow futures were down 1.64 percent at 26,918 points, the S&P 500 was down 1.35 percent at 3 337,25 points, and the Nasdaq was down 1.05 percent at 11,465 points.
Microsoft’s quarterly results beat analysts ‘ forecasts, helped by the shift to remote work, and online training in response to the pandemic. However, its shares, which are up 35 percent this year, are down 2 percent.