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.
Florida’s CAIR threatens lawsuit against DeSantis after he labels group a ‘foreign terrorist’ organization
Top US political figures lend legitimacy to Qatari forum allied with array of anti-American groups
3 people arrested after 7 Providence College students overdose at off-campus party
Trump says New York Times questioning his stamina could be ‘treasonous’
Trump mocks Ilhan Omar’s ‘turban’ in latest anti-Somali tirade
Trump compares real wages under his admin versus Biden’s during speech calling out Dem affordability ‘hoax’
Trump gives update on wounded National Guard member 2 weeks after DC ambush shooting: ‘He got up from bed’
American skydivers reclaim world record from Libya with massive flag jump on Pearl Harbor Day
Trump says Rep. Crockett’s Senate run ‘a gift to Republicans’: ‘Can’t imagine she wins’
$900B defense bill advances to House-wide vote as conservative mutiny threat looms
Trump rips Biden and Democrats over affordability in Pennsylvania: ‘Like Bonnie and Clyde preaching public safety’
New report reveals federal spending per person has ballooned by nearly 10,000% since 1916
Twin Blue-State Punks Meet SWAT Justice After Threatening Medieval Torture, Then Murder of DHS Asst. Dir. Tricia McLaughlin
Plane crash-lands on top of Toyota on Florida freeway following engine trouble
McDonald’s Pulls Unsettling Christmas Commercial After it Sparks Massive Backlash
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.
