Dow futures drop as coronavirus fears continue

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(CNN) — Stock futures plummeted Sunday night — a sign that the markets may be in for another rough week as fears about the novel coronavirus outbreak continue to mount.

Dow futures dropped more than 500 points Sunday night, or about 2%. Within minutes, the drop eased up slightly and futures were down 260 points.

S&P 500 and Nasdaq futures were down around 1%.

Sunday’s drop comes after the Dow had already closed down 357 points on Friday — its seventh-consecutive day in the red.

Markets in Asia Pacific were also lower during Monday trading hours in the region. Australia’s S&P/ASX 200 fell nearly 3%. Japan’s Nikkei 225 was down nearly 1.2%. South Korea’s Kospi dropped 0.6%.

The coronavirus outbreak is weighing on the world economy. There have now been 85,000 reported cases of the disease, which has reached every continent except Antarctica.

Fears about the outbreak drove all three major US stock indexes last week to post their worst weekly percentage drops since the financial crisis. The energy market, crude oil, gold and Treasury yields all slipped last week, as well.

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