Dow futures logs third-straight loss as financial shares lags

Dow Jones US index

The Dow Jones Industrial Average futures were down for a third day in a row as a huge loss in financial shares that erased the gains made by health sectors weighed in on Wall Street indices.

On Thursday, the blue chip index settled in the bearish territory after it gave up 12.74 points, or 0.1%, to finish at 21 397.29, its third-straight session decline in four days.

Financial stocks were the biggest losers on yesterday’s session as it tumbled 0.6% on losses incurred by insurance firms and banking companies.

On the previous session, the Dow lost 57 big points, or 0.3%, to settle at 21 410.03 and still could not drag itself out of the water as investors were enjoying a series of sell-off.

Shares of health-care companies provided enough spark for the US stock market as it chipped in a 1.4% gain, following reports from the New York Times that US President Donald Trump has created a draft that will benefit the country’s drug industry.

Experts said that this potentially friendly executive order about drug regulation steered a surge not just in health care stocks but also in biotechnology shares, which gained 1.3%.

It was a start for the Dow futures this week after it notched a new record high on Monday, closing at 21 528.99, only to fall for the next three sessions.  Meanwhile, the index was still up 8.9% so far this year.


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