By Oliver Gray
Investing.com - U.S. stock futures were higher in early APAC deals on Tuesday, following losses during the regular session as market participants reacted to surging Omicron coronavirus infection rates across the world amid thinner trading volumes, with the variant now found in at least 43 states and 90 countries and accounting for 73% of new infections in the U.S. last week.
The Dow Jones Industrial Average dropped 433.28 points or 1.23% to 34,932.16, dragged down by losses in The S&P 500 dipped 52.64 points or 1.14% to 4,568.02 and the technology-focused Nasdaq Composite declined 188.74 points or 1.24% to 14,980.94.
Dow Jones 30 Futures gained 0.39%, S&P 500 Futures rose 0.42% and Nasdaq 100 Futures climbed 0.58%.
Among stocks, technology companies were lower with Amazon.com Inc (NASDAQ:AMZN) down 1.73%, Microsoft Corporation (NASDAQ:MSFT) falling 1.2%, Meta Platforms Inc (NASDAQ:FB) down 2.5%, Twitter Inc (NYSE:TWTR) easing 0.21%, Block Inc (NYSE:SQ) down 5.24%, while Netflix Inc (NASDAQ:NFLX) bucked the trend to gain 1.19%.
EV manufacturers dipped as Tesla Inc (NASDAQ:TSLA) lost 3.5%, Rivian Automotive Inc (NASDAQ:RIVN) dropped 7.9% and Lucid Group Inc (NASDAQ:LCID) last 5.05%
Major financials also sank, as JPMorgan Chase & Co (NYSE:JPM) lost 1.8%, Citizens Financial Group Inc (NYSE:CFG) dropped 2.13%, Bank of America Corp (NYSE:BAC) fell 1.64%, Goldman Sachs Group Inc (NYSE:GS) lost 2.67% and Citigroup Inc (NYSE:C) dipped 2.12%.
Meantime, Bank of America Corp (NYSE:BAC) dropped 2.15% and American Express Company (NYSE:AXP) lost 2.57%.
In extended deals, Nike Inc (NYSE:NKE) added 3.2% after reporting better than expected earnings results despite ongoing supply chain pressures.
In policy news, Sen. Joe Manchin, a conservative Democrat from West Virginia, said Sunday he won’t support the Biden administration’s “Build Back Better” plan, likely killing the $US1.75 trillion social spending and climate policy bill in its current form.