US stocks fall as states rush to contain new coronavirus flare-ups

U.S. stock index futures dropped on Wednesday as investors shunned risky bets with many U.S. states scrambling to fight a spike in coronavirus infections.

Shares of U.S. lenders, which tend to outperform when the outlook for the economy improves, also slipped. Bank of America Corp, Citigroup Inc and Goldman Sachs fell between 1.5% and 2.6%.

A slate of better-than-expected economic data and massive stimulus measures have powered the Nasdaq to a record level and put the benchmark S&P 500 on track for its best quarterly performance since 1975.

The S&P 500 and Dow Jones Industrials are just about 7% and 11.5% from their respective February record closing highs.

At 6:25 a.m. ET, Dow e-minis were down 273 points, or 1.05%. S&P 500 e-minis were down 29.25 points, or 0.94% and Nasdaq 100 e-minis were down 61 points, or 0.6%.