Dow Falls, Oil Slumps, Covid-19 Surge in Europe Hits Sentiment—and What Else Is Happening in the Stock Market Today

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The stock market was falling Tuesday as a surge of Covid-19 cases in Europe hit sentiment, while investors continued to consider how the renomination of Jerome Powell to lead the Federal Reserve could shift the outlook for rate increases.

Futures for the Dow Jones Industrial Average indicated an open 40 points lower, after the index edged up 17 points Monday to close at 35,619. Futures for the S&P 500 and Nasdaq signaled a similar start, after both indexes took a sharp turn downward at the end of Monday trading.

Overseas,…