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.
‘Let’s brew it in the United States’: Teamsters target Modelo and Corona in push for Mexican beer tariffs
Six dead as Kyiv hit by largest ballistic missile attack of war with interceptor stock low
Jarring Video: South African Reveals What’s Actually Believed About Whites, And It Is Horrific
Muhammad Is The Top Baby Name For Boys In England And Wales For Third Year In A Row
James Carville, Dem With Deteriorating Mental State, Says CNN Should Have Aired Presidential Speech to Show Trump’s Deteriorating Mental State
‘Keep a low profile’: State Department warns Americans overseas they could be targeted
Authorities Identify Source of Nationwide Cyclospora Outbreak: Salad Distributer Used By Taco Bell
Johnson warns America is in ‘battle’ against Marxism, calls for renewed focus on nation’s founding principles
Platner ally Troy Jackson closing in on Democratic Senate nod in key race to face Collins
Extreme Climate Model Scenario Was Widely Used Despite Being Impossible
Controversial program paying drug users for used syringes becomes permanent in NYC
Education Department Moves To Crack Down On Schools, Teachers Unions Protecting Sexual Predators
Alabama man charged with killing military veteran, wife had posted about them online for a decade
Lindsay Clancy’s husband could testify for her at trial over deaths of their three children
ICE melting under Trump’s expectations, officers say
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.
