U.S Stock Futures Trade Flat after Losses
Investing.com
Published Sep 21, 2021 10:12
By Oliver Gray
Investing.com - U.S. stock futures were little changed in overnight deals on Monday, following the S&P’s biggest daily losses in four months as market participants retreated amid fears that a debt crisis at China Evergrande Group could spark credit crunch in China's real estate sector, leading to a potential economic crisis in the world's second largest economy.
During Monday’s regular session, the Dow Jones Industrial Average lost 614.41 points, or 1.78% to 33970.48, posting its biggest one-day drop since July 19. The S&P 500 fell 75.26 points or 1.7% for its worst day since May 12 of this year and the NASDAQ Composite dropped 330.06 points or 2.19% to 14713.9 as investors rotated away from growth stocks.
Among stocks, Devon Energy Corporation (NYSE:DVN) fell 5.4% and APA Corporation (NASDAQ:APA) lost 6.11% as Crude Oil WTI Futures dipped overnight. Technology heavyweights also traded lower, with Google-parent Alphabet Inc Class A (NASDAQ:GOOGL) down 1.48%, Apple Inc (NASDAQ:AAPL) falling 2.14% and, Amazon.com Inc (NASDAQ:AMZN) dipping 3.08%.
Investors are also cautious ahead of the Federal Reserve’s meeting later in the week. The Fed has made it already clear that tapering could occur this year but investors are waiting for more details after mixed economic data last week. The delta variant of the coronavirus also pushed up infections to levels last seen in January, wiping out months of progress despite vaccination efforts as North America heads to colder weather.
Get The App
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.