Dow ( futures dropped 346 points, or 1.5%. )S&P 500 ( futures also fell 1.5%, and )Nasdaq ( futures were down 1.3%. )
Last week brought back painful financial data. More than 30 million Americans has now delivered initial unemployment claims since mid-March. Economists surveyed by Refinitive expect unemployment to have reached 16.1% last month, which would be the highest level since 1939.
The next week probably will provide greater clarity on the unemployment picture in the country as the US government releases its latest job report on Friday.
During the past week, many companies as well warned investors about challenging times ahead while reporting earnings for the first three months of 2020. While many US companies were only really beginning to feel the effects of coronavirus during the last month of the first quarter, the pandemic and financial crisis that followed the heavy companies throughout June quarter, and probably beyond.