US stocks witness fall | Arriba Trends

US stocks witness fall


The rising number of cases due to the spread of the global Coronavirus pandemic has resulted in the dropping of US stock futures in early Asian trades. This is is due to the raised doubts about the economic rebound after a massive downturn that was triggered by the pandemic.

Having fallen to as low as 1.05% in the earlier trade, the US S&p 500 Futures ESc1 stood at 0.4% at 2323 GMT. Japan’s Nikkei is expected to fall by around 1.3% as indicated by Chicago-traded futures NIYc1. Apple Inc (AAPL.O) also said that it will be temporarily shutting down 11 of its stores in the US due to the continuous rise of COVID-19 cases in the western and southern states of America.

The World Organization reported that the spread of the pandemic is accelerating globally as a record number of new cases were reported on Sunday and the condition in the US is no better as John’s Hopkins University’s data showed that the new cases in the US hit a new highest level on Saturday since Early May.

Yoshinori Shigemi the global strategist at JP Morgan Asset Management was reported saying that the second wave is becoming a theme for markets and will direct the way the markets will operate in the future.

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