Some of the speculative froth continues to slip away from stocks in early action on Monday morning. DJIA futures are down 2.1%, S&P 500 down 1.7%, and Nasdaq 100 down 1.5%.
Previous pandemic favorite, Nikola Corporation is off another 27% to $25, after its founder exits the company. The EV player was taken public via SPAC merger in April, and its stock subsequently rose about 9X to $94 in the space of a couple of months.
Proving again to be not much of a port in the storm during big stock market declines, gold (XAUUSD:CUR) is down 1.8% to $1,926 per ounce, silver (XAGUSD:CUR) is off 3.8% to $26.11, and Bitcoin (BTC-USD) is lower by 3% to $10,607.