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.
Trump says he’s not involved in investigation into Ilhan Omar
Watch: Fireworks as Black Student and Talarico Voters Meet – Begin Hating, Attacking Each Other in Seconds
Coworker accused of slashing woman’s throat during ride home, victim escaped moving car: police
Ouch: ‘Saturday Night Live’ Turns Jelly Roll Into a Punchline
DNC Chair Ken Martin defends ‘Big Tent’ strategy when pressed on democratic socialists
Mamdani unveils sweeping NYPD use-of-force review, but stops short of fulfilling key campaign promises
Retired police sergeant shoots deputy chief wife and their daughter in wealthy, coastal enclave home
Ilhan Omar Tries to Talk Tough in Response to DHS Raid, But One Glaring Detail Betrays Her Cowardice
Keep Paying Up to 27% – Or Take Two Minutes to Check If You Qualify for 0%
Hackers target refrigerators at French supermarkets, overheating them and causing fires
Ilhan Omar says she will ‘not be silenced’ following raid on Washington home
Biden-appointed judge with history of fiery Trump clashes erupts at DOJ: ‘You’ve lost all credibility!’
AIPAC takes another shot at el Sayed and hands Rogers a political gamble in Michigan Senate race
Republican lawmakers break with Trump on diesel deal with Russia
Federal agents conduct predawn search of Ilhan Omar’s home in Washington
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.
