Dow futures sink 600 points as the market pullback continues.
Stocks which stand to benefit the most from a successful reopening led the losses in premarket trading. Carnival and Royal Caribbean cruise lines each lost more than 5%. United Airlines lost 6%. Retailers Kohl's and Gap declined. These types of stocks surged in May as investors bet that the worst of the virus was over.resurgence in the virusThe Dow and S&P 500 lost 5.5% and 4.7% last week, respectively, while the Nasdaq shed 2.3%.
"The Covid deterioration in certain states will stay an overhang for the market, although it would take a sustained increase in US numbers overall to spark a dramatic shift in the narrative," Vital Knowledge founder Adam Crisafulli said in a note on Sunday.
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