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.
Three US Service Members Killed, Five Seriously Wounded During Operation Epic Fury Against Iran
Burger King Is Altering Its Flagship Burger for the First Time in Nearly 10 Years
Enemy within: Counterterrorism experts fear sleeper cells could be poised inside US
Kamala Harris Intervenes at Last Second in TX Dem Senate Race, Endorses Jasmine Crockett
GOP warns Democrats’ DHS shutdown could jeopardize World Cup security
Nancy Guthrie abduction sparks fears over senior safety in affluent communities: expert
Austin Police Kill Armed Gunman After 3 Die, 14 Wounded Bar Shooting
‘I Love Trump’: Viral Videos Show Iranians Praising Trump, Dancing in the Street Following US Strikes
Dems’ potential 2028 hopefuls come out against US strikes on Iran
‘Bloodthirsty Thugs’: Trump Celebrates Killing of Iranian Regime Leader in Lengthy Post
Hegseth Announces the Woke Organization Formerly Known as the Boy Scouts Will Drop DEI – But the Damage Is Already Done
Newsom book tour missteps expose national campaign ‘growing pains’
Republican NeverTrumpers Tried Throwing a Conference and the Results Were Less Than Stellar
Sustained war with Iran could drain US missile stockpiles, test escalation control
From hostage crisis to assassination plots: Iran’s near half-century war on Americans
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.
