Dow Futures Drop Nearly 1% as Election Results Unclear and Coronavirus Death Toll Spikes

European stocks and the U.S. Stocks Futures started to retreat as the U.S. election results remained unclear, turning back to focus on the rising coronavirus cases and the new lockdown measures in Europe.

 

Prior to the last trading day of the election week, Dow Jones Futures slipped 242 points or 0.86%. S&P 500 Futures fell 0.93% and Nasdaq Futures dropped 1.19%.

In Europe, DAX plunged 0.80%, FTSE dipped 0.32%, CAC slipped 0.66% and STOXX600 retreated 0.60%.

 

According to Foxnews’ tally, Joe Biden currently gained 264 electoral votes and only 6 votes shy of being the U.S. 46th president, while the incumbent Donald Trump had 214 votes. All eyes are focusing on the counting in Nevada, which is the Democratic Party’s base.

Georgia turned out to be another decisive battleground, which could be reporting the results before Nevada. Trump initially had an upper hand in the state, but Biden started to pick up and is now neck-and-neck with the incumbent.

Investors also turned their focus on the coronavirus outbreak in Europe as Italy recorded its highest daily death toll since April on Thursday. Italy and Greece are now under a lockdown under their government’s orders.