Brandon

Source: Yahoo Finance

(Bloomberg) — U.S. equity futures fell with Asian stocks as concern lingered about the impact of the worsening pandemic on economic activity in some parts of the world. The dollar rebounded against major peers.Shares dropped in Japan, Australia and South Korea. S&P 500 contracts retreated after the U.S. benchmark closed with a modest decline. Earlier, technology shares eked out gains on Advanced Micro Devices Inc.’s $35 billion takeover of chipmaker Xilinx Inc. European shares fell to the lowest since May amid concern about the faster spread of the coronavirus on the continent.China’s yuan is in focus after the nation’s banks abandoned inclusion of a key factor used to calculate the currency’s daily reference rate. Treasury yields closed lower.Volatility remained elevated as the possibility of a U.S. stimulus package before next week’s election fades. Meanwhile, investors mulled a U.S. consumer confidence report that came in worse than forecast Tuesday. Data showed Covid-19 hospitalizations rose at least 10% in the past week in 32 states and the nation’s capital.“Covid case counts and hospitalizations continue to rise — these will continue to be closely watched as investors gauge the likelihood of more stringent mitigation measures,” said Yousef Abbasi, global market strategist at StoneX.Elsewhere, crude retreated.

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