Dow Futures Fall 370 Points; Rising Covid Cases Weigh on Sentiment By –

© Reuters.

By Peter Nurse – U.S. stocks are seen opening sharply lower Monday, continuing last week’s negative tone amid concerns about rising Covid cases while the quarterly corporate earnings season continues.

At 7 AM ET (1100 GMT), the contract was down 370 points, or 1.1%, traded 30 points, or 0.7%, lower and dropped 55 points, or 0.4%.

The major indices last week recorded their first negative in four, with the falling 0.5%, the dropping 1%, and the falling 1.9%, its worst week since May.

Rising numbers of U.S.

Covid-19 cases are now weighing on sentiment, with the Delta variant now the dominant strain worldwide. U.S. cases were up 70% last week over the previous week and deaths are up 26%, with outbreaks occurring mainly in parts of the country with low vaccination rates, Rochelle Walensky, director of the U.S. Centers for Disease Control and Prevention, said on Friday.

The seven-day-average more...