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September contracts on the S&P 500 fell 1.2% as of 11:27 a.m. in Tokyo, while futures on the Nasdaq 100 Index and Dow Jones Industrial Average declined 1% and 1.4%, respectively. Beijing announced 21 new cases Thursday, presenting the biggest challenge yet in China’s efforts to prevent a second wave of infections. U.S. states including Texas, Florida and Arizona reported a jump in infections. The won weakened for a second day against the dollar as South Korea warned the North against further provocations.
“With Covid-19 filling the airwaves and geopolitical angst dotting the Korean landscape, the market is taking a decidedly defensive posture,” Stephen Innes, chief market strategist at AxiCorp Ltd., wrote in a note.
The underlying S&P 500 Index swung between gains and losses for most of Wednesday before turning red late, with the energy, real estate and financial sectors leading the declines.
©2020 Bloomberg L.P.
