Global stocks drop, oil tumbles on fresh travel bans

Global stocks dropped Monday as a fast-spreading strain of coronavirus emerging from England prompted fresh travel restrictions, dealing another blow to prospects for the global economic recovery.

Futures tied to the S&P 500 dropped 1.9%, pointing to losses at the opening bell for the benchmark stocks gauge, which ended last week at its second-highest level on record. Futures linked to the technology heavy Nasdaq-100 index