Dow futures drop after turbulent week on Wall Street
Stock futures dropped Sunday after a week that saw volatile markets due to the recent GameStop situation.
Dow futures were down 252 points, or 0.8%. S&P 500 futures were down 1%, while Nasdaq futures were down 1.2%.
US stocks finished a turbulent week sharply lower on Friday. The Dow and the S&P 500 recorded their first monthly losses since October. For the week, the two indexes, as well as the Nasdaq Composite, also logged losses.
The Dow closed 2%, or 622 points, lower, while the S&P ended the day down 1.9%. The Nasdaq fell 2%.
The volatile week came on the heels of a whole bunch of trends: Analysts fear the massive short-squeeze in GameStop and other Reddit favorites are beginning to curtail liquidity in other parts of the market as investors unwind positions. On top of that, earnings season is in full swing and investors are taking profits.
– CNN’s Anneken Tappe contributed to this report