US pre-open: Coronavirus fears hammer stocks ahead of the bell
US futures had stocks opening markedly lower on Monday as confirmed worldwide cases of the Wuhan coronavirus hit 2,862 and rising.
As of 1230 GMT, Dow futures were down 1.38%, while S&P 500 and Nasdaq-100 futures had the indices opening 1.40% and 1.82% lower, respectively.
The Dow closed 170.36 points lower on Friday after the World Health Organization branded the virus an "emergency in China" and the US saw its second reported case.
However, since then, the death toll in China has risen to 81, with the World Health Organization's director-general now en route to the source in order to meet with local government and health officials.
CMC Markets analyst David Madden said: "The coronavirus fears have gripped the markets this morning as all the major European equity benchmarks are nursing big losses.
"Stocks that are connected to China are feeling the pain this morning as traders are afraid the health crisis will curtail economic activity. Beijing have extended the Lunar New Year holiday in a bid to help tackle the problem."
Iron ore and copper prices have also tumbled amid fears the Chinese demand will lessen as a result of the outbreak - dragging mining stocks down in the process.
Also in the corporate space, Boeing shares were lower ahead of the bell after news broke that one of its aircraft had crashed over Afghanistan.
As far as earnings were concerned, DR Horton and Whirlpool will report on Friday.
In parallel, the yield on the benchmark 10-year US Treasury note was down by six basis points to 1.62% as some investors headed for the sidelines.
On the macro front, new home sales will be released at 1500 GMT, while Dallas Fed Manufacturing figures will come in at 1530 GMT.