Futures on the Dow Jones Industrial Average were little changed. The S&P futures and the Nasdaq 100 futures were fractionally lower. Trading volumes were thin overnight.
The record spikes in new coronavirus cases in multiple states are damping hopes for a smooth economic recovery. California and Florida reported their biggest daily spikes in new coronavirus cases, while Houston said its intensive-care unit beds are near capacity. New York, New Jersey and Connecticut also ordered visitors from certain hotspot states to quarantine for 14 days.
The negative headlines sent the market into a downward spiral on Wednesday. The Dow dropped about 700 points, while the S&P 500 and the Nasdaq fell 2.5% and 2.1%, respectively. All three benchmarks posted their worst day since June 11. The tech-heavy Nasdaq also snapped an eight-day winning streak.
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