U.S. stock futures lurched lower Thursday as stock indexes around the globe plunged on renewed fears about the economic costs of the Wuhan coronavirus pandemic.
Futures contracts linked to each of the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite once again hit the so-called ‘limit down’ thresholds, a rare event that occurred earlier in the week. These thresholds prevent new contracts from trading below 5 percent of the underlying indexes last close.
President Trump’s 30-day ban on most travel from Europe to the U.S. put renewed pressure on the price of oil and gave rise to concerns that operations of many global businesses could be hurt. In addition, just after the president addressed the nation from the Oval Office, the NBA suspended the professional basketball season, making the economic toll on the U.S. became more salient for many Americans.
The surprising reason why Americans could face high beef prices for years
Breaking the Fourth Wall: Left-wing groups defiant as GOP sheds light on groups tied to China
Grand jury rejects DOJ effort to indict Democratic lawmakers who urged military to defy illegal orders
Key House committee advances nationwide voter ID bill, setting up 2026 election fight
What the timing of the FBI’s image release suggests in the Nancy Guthrie case: crime insider
Dem senator fumes that GOP’s foreign funding claim ‘delegitimizes’ anger of anti-ICE agitators in US
Susan Collins shrugs off attacks by Democrats and Trump, says Maine voters ‘Don’t vote party line’
DOJ Unredacts Alleged Epstein Co-Conspirators After Pressure from Thomas Massie and Ro Khanna
Leavitt brushes off Lutnick–Epstein heat with list of administration wins media ignored before ending briefing
Media Reporting Trump’s Tariffs Cost Americans $1,000, But They’re Ignoring Overall Savings of His Policies
Dem lawmaker compares ICE agents to Nazis and Gestapo during fiery House hearing on enforcement
Senate GOP investigating Pritzker administration over Illinois health records breach
Major charity raises legal questions by funding pro-Harris dark money operation
Fulton County FBI raid prompted by Trump 2020 election lawyer’s criminal referral
AI power players pour cash into competitive primaries as 2026 midterms heat up
What’s more, President Trump’s call for measures to bolster the economy fell short of announcing a program agreed to by Capitol Hill lawmakers. On Wednesday, many lawmakers in both the Democratic and Republican parties either rejected the president’s proposals or said they were unlikely to pass. That raises the prospect that any economic stimulus could be delayed by weeks or months, perhaps coming too late to stave off a recession.
Stocks were down sharply in Europe, with the major indexes in Germany, France, and the U.K. down by more than 5.5 percent. Asian markets were also down, with Japan’s Nikkei falling 4.4 percent the the Shanghai Composite dropping 1.5 percent.
Story cited here.
