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Wynn Resorts and United Airlines Holdings, companies sensitive
to restrictions, dropped more than 1% in premarket trading.
Energy firms such as Occidental Petroleum Corp fell 2.8% on
concerns over fuel demand.
New cases and hospitalizations set records in the U.S. Midwest,
while in Europe, concerns over a national lockdown in France
sapped investor appetite for risk.
Spiraling pandemic, elevated unemployment levels and U.S.
lawmakers failing to strike a deal on fresh fiscal stimulus
before the Nov. 3 election sent the S&P 500 and tech-heavy
Nasdaq to their lowest close in three weeks on Tuesday.
Wall Street's fear gauge spiked to its highest level in nearly
two months as investors feared a contentious election among
other outcomes in the final six-day stretch to the White House
race.
Democratic challenger Biden leads President Donald Trump
nationally by 10 percentage points, according to the Reuters/Ipsos
poll but the competition is tighter in swing states, which will
decide the victor.
At 06:28 a.m. ET, Dow E-minis were down 1.64% at 26,918 points
and S&P 500 E-minis fell 1.35% to 3,337.25 points. Nasdaq 100
E-minis dropped 1.05% to 11,465 points.
Microsoft Corp's quarterly results surpassed analysts targets,
benefiting from a pandemic-driven shift to working from home and
online learning. However, its shares fell 2% after rising 35% so
far this year.
The other Big Tech companies - Apple, Alphabet, Amazon and
Facebook - which are due to report results on Thursday, fell
between 0.9% and 1.6%.
(Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)
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