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.
Congress races against 3-week deadline to tackle massive year-end legislative agenda
Top 5 game-changers from the 2025 campaign trail
Swalwell Short-Circuits When Asked if Biological Men Should Stay Out of Women’s Bathrooms
Conservative Gettysburg College group catches student on video tearing down promotional flyers
The Response Was Telling: Scott Jennings Presses Democrat to Name Illegal Order Trump Issued
Chinese cyberattack campaign likely impacted every American, former FBI official says
NYT Says Illegal ‘Borrowed’ Identities from American Citizens to Commit Fraud, Fails to Report Exactly How Stolen IDs Can Be Returned
Male ‘Trans’ TSA Agent Wants to Pat Down Women So Bad He’s Filing a Lawsuit Over it
Massachusetts man accused of beating parents and setting home on fire, leaving them to die
Schumer accuses Trump of pushing US toward ‘foreign war’ with Venezuela
Mass shooting at Stockton, California, banquet hall leaves 4 dead, 10 wounded
Rep Troy Nehls, a Trump ally, will not seek re-election as twin brother announces campaign to replace him
Trump highlights federal law granting presidential power to halt immigration as crackdown escalates
Rioters arrested after attacking ICE vehicles in New York City; officials say group organized on social media
Christian Persecution Is on the Rise and the Media Is Downplaying It
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.
