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.
Movie Review: Hopeful Comedy ‘Home Delivery’ Delivers Heart, Laughs, and Free Admission for Expectant Mothers
‘Maybe It Wasn’t a Bug…’ Internet Weighs In on Man Who Discovered He Could Access 7,000 Robotic Vacuums
Battleground Dem candidate linked public displays of faith to political violence in 2023 speech
Fetterman tells far-left prosecutor to ‘lighten up’ after threatening to arrest ICE agents over raids
FTC commissioner likens American Bar Association to ‘communist party’ over far-left advocacy
NHL’s Nashville Predators Unveil New LGBT Logo, and It Doesn’t Land the Way They Hoped
Just In: Trump’s Legacy Will Now Appear on All New US Currency
Sorely needed US housing supply expansion may run through 3D printed homes
Israel has recognized Somaliland. Will the US follow?
Cruz says Trump’s move to strike Iran ‘most consequential decision’ of his presidency
Helicopter crashes into ocean off Hawaii coast, leaving multiple dead and injured
DHS shutdown breakthrough comes at cost for Republicans as funding fights nears end
New Jersey middle school teacher charged with child sex assault after alleged sexual relationship with student
Appeals court pauses orders limiting federal agents’ use of tear gas at protests near Portland ICE building
United jet dodges Black Hawk in last-second maneuver over California airport: ‘That was not good’
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.
