Wall Street futures slumped lower Monday amid the steepest premarket declines of the year.
Here are some of the top movers during premarket trading Monday.
Pfizer (PFE) – Get Pfizer Inc. Report and BioNTech ((BNTX)) – Get BioNTech SE Sponsored ADR Report said Monday their Covid vaccine was safe for children of ages 5 to 11. The two companies said the vaccine was safe and well-tolerated and produced a robust neutralizing antibody response against the coronavirus. The results were part of a late stage clinical trial. Shares of Pfizer fell 1.4% and U.S.-listed shares of BioNTech dropped 4.4% as part of a broader selloff in the market.
2. Bank of America | Down 3%
Shares of bank stocks slipped amid a decline in bond yields on slowdown fears. Investors flocked to Treasurys for safety as the stock market is set for its biggest selloff in months. Shares of Bank of America ((BA)C) – Get Bank of America Corp Report and JPMorgan Chase (JPM) – Get JPMorgan Chase & Co. (JPM) Report each traded 3% lower. Goldman Sachs (GS) – Get Goldman Sachs Group, Inc. (GS) Report dropped 2.8%.
3. Li Auto LI | Down 5.8%
Streaming giant Netflix (NFLX) – Get Netflix, Inc. (NFLX) Report won honors at the Emmy awards on Sunday night for the dramatic portrayal of the British royal family in “The Crown.” The shares were down 1.2%, reflecting a broader selloff in the market.
5. AstraZeneca (AZN) | Up 1.1%
U.S. listed shares of AstraZeneca ((AZN)) – Get Astrazeneca PLC Sponsored ADR Report were higher before the bell. The UK. pharmaceutical giant said Monday that its breast cancer drug, Enhertu, showed positive results in a Phase 3 trial.