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.
Winning! Rental Prices Drop to 4-Year Low After Major Spike Under Biden
White House says murder rate plummeted to lowest level since 1900 under Trump administration
Breaking: FBI Arrests Man for Allegedly Targeting Nancy Guthrie’s Family with Demands
Leavitt flips script on media for balking at Fulton election probe after years of promoting Russia claims
Anti-ICE ‘digital Minutemen’ use military-grade surveillance tactics against feds
Trump claims DNI Tulsi Gabbard was at Georgia election hub search because AG Pam Bondi wanted her there
Jill Biden’s ex-husband, now charged with murder, called wife ‘greatest thing in my life’
Arctic blast fuels scrutiny of Biden’s $8B electric bus push as watchdogs cite oversight failures
Jeffries risks fresh fracture with Schumer over ICE funding red line
Suspect Arrested After 30-Year-Old Woman Is Killed ‘Execution Style’ While Opening Her Business
Far-Left ‘Journalist’ Blames Conservatives After WaPo Layoffs – Apparently We Should Fund Our Own Smear Campaign
‘Anti-ICE Antifa TERRORIST’ arrested in Minneapolis for threatening federal agents: DOJ
Dem rising star who called Trump ‘con man’ spent over $120k on luxury hotels, transportation and security
Targeted for their faith overseas, persecuted Christians get a White House welcome under Trump
Graphic Video: LA Rioters Leave Female Journalist on the Concrete and Anti-ICE Mobs Go After 2 Other Female Journalists in Sanctuary City Nightmare
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.
