BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - President Donald Trump's prediction that the death toll in the U.S. could hit 100,00 or more and that the nation could get to the bottom of the hill by June 1 is really worrying for investors. The U.S. will continue social distancing until April 30.
Across the world, more than 728,000 people are infected with the coronavirus and more than 34,500 are dead by the pandemic. In U.S. alone more than 140,000 are affected by the covid-19 virus, while the death is nearly 2500.
Early cues from the U.S. Futures Index suggest that Wall Street might open moderately higher. Asian shares finished mostly down, while European shares are trading lower. On this week, the Labor Department's monthly jobs report is likely to attract attention.
As of 8.10 am ET, the Dow futures were adding 28.00 points, the S&P 500 futures were up 11.00 points and the Nasdaq 100 futures were progressing 36.00 points.
The U.S. major averages all finished Monday substantially lower. The Dow plunged 915.39 points or 4.1 percent to 21,636.78, the Nasdaq tumbled 295.16 points or 3.8 percent to 7,502.38 and the S&P 500 dove 88.60 points or 3.4 percent to 2,541.47.
On the economic front, National Association of Realtors' Pending Home Sales Index for February will be released at 10.00 am ET. The consensus is for a decline of 1.6 percent, while it was up 5.2 percent in the prior month.
Dallas Fed Manufacturing Survey for March will be issued at 10.30 am ET. In the prior month, the production Index was 16.4. The consensus for general activity index is for a decline of 6.0, while it was up 1.2.
Asian stocks ended mostly lower on Monday. Chinese stocks ended lower. The benchmark Shanghai Composite index fell 24.99 points, or 0.90 percent, to 2,747.21, while Hong Kong's Hang Seng index ended down 1.32 percent at 23,175.11.
Japanese shares fell sharply. The Nikkei average dropped 304.46 points, or 1.57 percent, to 19,084.97, while the broader Topix index closed 1.64 percent lower at 1,435.54. Australian markets saw their biggest single-day surge in 23 years after reports that the government is mulling wage subsidies for up to six months to counteract the impact of the coronavirus pandemic.
The benchmark S&P/ASX 200 jumped 339 points, or 7 percent, to 5,181.40 despite the worsening health crisis as the total number of cases in the country rose past 4,000. The broader All Ordinaries index ended up 319.80 points, or 6.56 percent, at 5,194.
European shares are trading lower. Among the major indexes in the region, the CAC 40 Index of France is down 75.29 points or 1.73 percent. The German DAX is losing 48.66 points or 0.50 percent, the U.K. FTSE 100 Index is sliding 67.33 points or 1.23 percent.
The Swiss Market Index is down 43.65 points or 0.47 percent. The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is down 1.15 percent.
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