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In New York’s Times Square, a woman is reflected in a puddle as she walks past a Bank of America branch. Reuters/Brendan McDermid Take a look at some of the biggest premarket movers: Bank equities, such as Bank of America (BAC) and JPMorgan (JPM), were under pressure on Thursday morning as concerns over the pace of the economic recovery grew. JPMorgan Chase’s stock fell 2.6 percent, while Bank of America’s stock fell 2.9 percent. Banks and other financials are commonly thought of as cyclical equities, whose success is linked to the economy’s direction. Charles Schwab (SCHW) – The brokerage firm’s stock dropped 3% after Goldman Sachs downgraded it from buy to neutral. Schwab has limited near-term upside, according to Goldman, after the retail trading surge aided the stock’s outperformance in the first half. Didi Global (DIDI) – The stock of the Chinese ride-hailing service continued to fall on Thursday morning as investors grappled with the country’s regulators’ crackdown on digital businesses. In premarket trade, shares were down more than 6%, following losses of 19.6% on Tuesday and 4.6 percent on Wednesday. Alphabet (GOOGL) – The internet behemoth fell 1.6 percent in premarket trade as the stock market sank. A consortium of states filed an antitrust lawsuit against Alphabet on Wednesday, focusing on the Google Play Store for Android phones. On Thursday morning, concerns about global growth appeared to be weighing on Advanced Micro Devices (AMD) and Nvidia (NVDA). Despite getting bullish analyst notes from Goldman Sachs and Oppenheimer, shares of Advanced Micro Devices and Nvidia both fell more than 2% in premarket trade. Carnival (CCL) – Shares of the cruise line plummeted more than 4% as the spread of the delta version of Covid-19 cast doubt on the travel industry’s ability to recover from the pandemic, prompting Tokyo to declare a state of emergency. Norwegian Cruise Line Holdings and Royal Caribbean both dropped more than 3% in premarket trade. United Airlines (UAL) – Airline stocks fell along with other travel brands in the premarket on Thursday, with United losing 3.4 percent. Also under pressure were American Airlines and Delta Air Lines. Occidental Petroleum (OXY) – Energy stocks dipped in premarket trading as oil prices fell, owing to concerns about global growth and uncertainties about the future of OPEC policies. Occidental Petroleum’s stock fell 3%, while Exxon Mobil’s stock fell 1.8 percent. Coinbase (COIN) – In premarket trading, shares of the cryptocurrency exchange fell 5% as crypto markets fell. On Thursday morning, the price of bitcoin had dropped roughly 6% and was trading below $33,000 per coin. CNBC Pro can help you become a better investor. Get stock recommendations, analyst calls, exclusive interviews, and CNBC TV access. To begin your free trial, simply fill out the form below./nRead More

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