(Bloomberg) -- U.S. stock index futures traded modestly down as rising virus cases in Beijing and some states in America weighed on sentiment.
September contracts on the S&P 500 trimmed an earlier drop of as much as 1.4% to trade 0.2% lower as of 9:23am in London, while futures on the Dow Jones Industrial Average fell a similar amount and those on the Nasdaq 100 Index were little changed. The Bloomberg Dollar Spot Index was steady.
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. Seoul's Kospi index fell after South Korea warned the North against further military 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.
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