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Pullback continues, Dow futures crater 2%, second wave?

7:39 am: Cruise lines fall as fears of a second coronavirus wave increase

Cruise line stocks took a hit on Monday as investors dumped the recently strong-performing group amid worries of a second coronavirus wave slowing down global travel. Carnival Corp. and Royal Caribbean both fell around 8% in the premarket. Norwegian Cruise Line slid 10.8%. Cruise operators have been on fire this quarter as traders be the worst of the coronavirus pandemic had passed. Quarter to date, Carnival is up 51.7% while Norwegian Cruise Line and Royal Caribbean are both up at least 87% in that time period. — Imbert

7:36 am: Coronavirus returns to Beijing

Officials in China’s capital city have reported 79 new cases of the coronavirus over the past four days after reporting no new cases for nearly two months. Parts of Beijing are now under lockdown to help control the spread of the virus, and the city has suspended sporting events and tourism. The outbreak has been linked to the Xinfadi market in the southwest part of the city. —Pound, Reuters

7:35 am: US airline stocks sink as virus fears threaten reopening trade

Shares of major U.S. airline companies fell across the board in premarket trading Monday morning as inflamed fears about a second wave of coronavirus cases continued to threaten the market’s recent optimism about economic reopening. Delta, United and Alaska Air fell 7%, 8.7% and 6.8%, respectively, underperforming S&P 500 futures that pointed to a slide of 2.1% for the broader market when regular trading resumes. JetBlue Airways and Southwest Airlines dropped 7.3% and 6.1%. — Franck

7:20 am: Dow futures drop more than 600 points

U.S. equities futures fell on Monday as investors ditched riskier assets over fears about a possible second wave of the coronavirus. Dow Jones Industrial Average futures fell about 600 points, or 2.4%. S&P 500 futures lost 2%. Nasdaq-100 futures declined 1.4%. Stocks that hinge on the economy reopening — airlines, cruise lines and retailers — were the weakest before the bell on Monday. 

Stocks are coming off of their worst week since March. Equities reversed course last week after chugging higher for three straight weeks. The Dow and S&P 500 lost 5.5% and 4.7% last week, respectively, while the Nasdaq shed 2.3%. — Fitzgerald 

— with reporting from CNBC’s Fred Imbert and Pippa Stevens. 

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