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U.S. stock index futures fell as investors assessed the prospects of a stimulus bill and a potentiallybumpy transition of power in the White House.
December contracts on the S&P 500 were down 0.8% at 2:04 p.m. in Tokyo, after sliding as much as 0.9%. Futures dropped 0.8% on the Dow Jones Industrial Average and declined 0.7% on the Nasdaq 100 Index. The Cboe Volatility Index, which moves in the opposite direction of the equity benchmark about 80% of the times, increased for the first time this month on Monday.
The underlying S&P 500 moved away from record levels on Monday as Senate Majority Leader Mitch McConnell said Congress should pass only a limited bill before the end of 2020. Meanwhile, the Federal Reservewarned that asset prices in key markets could take a hit if the pandemic’s economic impact worsens in coming months.
— With assistance by Sofia Horta e Costa, and Sophie Caronello
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