BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The new Corona outbreak in Italy and South Korea is adding panic among investors and creating fear about economic growth risks. There are more than 200 cases of corona virus infections reported in Italy and five people were dead. Reports from South Korea talks about more than 800 infections that tripled from the prior week. Iran has reported 12 deaths and is struggling to get testing kits in view of the U.S. ban. The Covid 19 virus infection has claimed more than 2600 lives globally.
Early signs from U.S. Futures Index point to brutal opening on Monday. Asian shares closed in the red, while European shares are trading lower.
As of 7.40 am ET, the Dow futures were falling 777.00 points, the S&P 500 futures were declining 85.75 points and the Nasdaq 100 futures were losing 274.50 points.
The U.S. major averages all closed firmly in the red on Friday. The Nasdaq plunged 174.37 points or 1.8 percent to 9,576.59, the Dow slid 227.57 points or 0.8 percent to 28,992.41 and the S&P 500 tumbled 35.48 points or 1.1 percent to 3,337.75.
On the economic front, Chicago Fed National Activity Index for January will be published at 8.30 am ET. The consensus is for minus 0.6, while it was minus 0.35 in the prior month.
Dallas Fed Manufacturing Survey for February will be released at 10.30 am ET. The general activity Index consensus is 2.1, while it was minus 0.2 in the prior month. Production Index for the month in January was 10.5.
The six-month Treasury bill auction will be held at 11.30 am ET.
Asian stocks fell on Monday. China's Shanghai Composite index slid 0.28 percent to 3,031.23. Hong Kong's Hang Seng index fell 1.79 percent to 26,820.88.
The Japanese markets were closed for the Emperor's Birthday holiday. Australian markets tumbled. The benchmark S&P/ASX 200 Index lost 160.70 points, or 2.25 percent, to 6,978.30, while the broader All Ordinaries index ended down 165 points, or 2.28 percent, at 7,065.40.
European shares are trading in the red. France's CAC 40 is declining 209.25 points or 3.46 percent. Germany's DAX is down 475.61 points or 3.50 percent. FTSE 100 of U.K. is lowering by 226.90 points or 3.02 percent. Swiss Market Index is down 336.20 points or 3.03 percent.
Eurozone's leading Blue Chip index, Euro Stoxx 50, is declining 3.48 percent.
Copyright RTT News/dpa-AFX