Dow futures were down 520 points or 1.5%. S&P 500 futures fell 1.5% and Nasdaq futures were also 1.5% lower.
Several factors contributed to Wall Street’s sharp reversal from its record highs set Wednesday.
The Delta variant: The spread of the coronavirus’ Delta variant continued to threaten the global economic recovery. More than 4 million people around the world have died of Covid-19, according to Johns Hopkins University. But the Delta variant is about twice as infectious as the 2020 version — a kind of “Covid-19 on steroids,” Andy Slavitt, a former senior adviser to Joe Biden’s Covid Response Team, told CNN on Wednesday.