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.
Police Department Uses AI to Write Reports, Only to Have it Claim One of the Officers Was Turned Into a Frog
Blackstone Stock Nosedives After Trump Announces Plan to Ban Major Investors from Buying Up Single-Family Homes
Trump responds to post suggesting Rubio as president of Cuba: ‘Sounds good to me’
Somali Maine city councilor resigns days after taking office after felony charge, residency questions
Ex-con charged in Christmas Day CVS robbery that left clerk fatally stabbed
Rob Schneider Goes Off on Minneapolis Mayor for Fanning Flames After ICE Shooting
NASA makes ‘unprecedented’ call to bring astronauts home after illness, expert says: ‘Evacuated from orbit’
How One Trump Admin Arrest May Soon Refill the Strategic Oil Reserves Biden Drained
Left-wing group backs tens of thousands of anti-ICE demonstrations nationwide
Lib Reporter Faces Subpoena After Doxxing Delta Force Commander Over Maduro Capture
Charlie’s Legacy: Ex-Playboy Playmate Jenny McCarthy Has ‘Surrendered’ to Jesus, Says Kirk’s Death Immediately Drove Her to Start Studying the Bible
DC pipe bomb suspect pleads not guilty to planting devices at DNC and RNC headquarters
Trump says Venezuela has begun releasing political prisoners ‘in a BIG WAY’
Trump Launches Plan to Protect Americans from Getting ‘Ripped Off’ By Credit Card Companies
MTG May Have Leaked Trump’s Location to Unhinged Activists: White House
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.
