· Dow futures fall more than 200 points after Wall Street closed at record highs to end last week
Stock futures fell in early morning trading Monday as investors assessed the outlook for more Covid-19 relief stimulus.
Futures on the Dow Jones Industrial Average fell 203 points. S&P 500 futures and Nasdaq 100 futures both traded in negative territory.
· Major Asia-Pacific markets decline as South Korea’s Kospi sheds gains
Major Asia-Pacific markets dipped on Monday, with South Korean stocks hitting a pause following a stellar start to 2021.
South Korea’s Kospi, which jumped nearly 10% in the first trading week of the year, shed earlier gains seen during the session and closed 0.12% lower at 3,148.45.
Shares of automaker Hyundai Motor rose again on Monday following a local media report that the firm and Apple are set to sign a partnership deal on autonomous electric cars, according to Reuters.
Hyundai Motor shares soared 8.74% on Monday while Kia Motors also jumped 2.64%. Meanwhile, Hyundai Mobis and Hyundai Glovis fell 1.95% and 3.73%, respectively. Shares of Hyundai Motor popped more than 19% on Friday following an initial report surrounding the Apple deal.
MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.14%.
Markets in Japan were closed on Monday for a holiday.
· China stocks end lower on Sino-U.S. tensions, fresh virus cases
China stocks closed lower on Monday as worries over Sino-U.S. tensions continued to weigh on the market, while a jump in new domestic COVID-19 cases also dampened sentiment.
The blue-chip CSI300 index fell 1.0% to 5,441.16, while the Shanghai Composite Index declined 1.1% to 3,531.50.
· European markets slightly lower as coronavirus weighs on sentiment
European stocks retreated slightly on Monday morning, following the trend set by their Asian counterparts overnight.
The pan-European Stoxx 600 slid 0.15% in early trade, with autos falling 1% to lead losses while tech stocks added 0.4%.
The negative open European equities comes as stocks in Asia-Pacific mostly declined Monday, and U.S. stock futures fell in overnight trading Sunday as investors assessed the outlook for more Covid-19 relief stimulus.
Reference: CNBC, Reuters
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