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.
Republican Sen. John Cornyn Calls on GOP to Change Filibuster and Pass SAVE Act as He Prepares for Primary Runoff Against Ken Paxton
Conquered: NYC Firefighters Angry After Bosses, Muslim Firefighters Make Startling Change to 9/11 Memorial Area for Ramadan
Wife of former Gov Terry McAuliffe jumps into crowded Dem congressional primary race
Hawley introduces bill to strip FDA approval from ‘inherently dangerous’ abortion pill
Gene Simmons tells celebrities ‘shut the f*** up’ about politics
Developing: FBI Took Terabytes of Arizona Election Data After Reviewing ‘Alarming’ Report Citing Opened Pallets Full of Blank Ballots
Starmer was warned about ‘reputational risk’ of Peter Mandelson’s Epstein ties, files show
Foreign-backed group serves as bridge between GOP and Russia-friendly Europeans
Trump ally Clay Fuller advances in Georgia fight for MTG’s former seat
DOJ leader swats back DNC election security suit, mocks demands as kid’s ‘tooth fairy’ wish list
Thune Signals SAVE Act Is Dead in the Senate – If You Skip Voting in Primaries, You Own a Share of the Blame
Former Kentucky cheerleader indicted on manslaughter charge after newborn son found dead in closet
Sheriff running Nancy Guthrie case responds after report reveals unseemly exit from first policing job
Three cargo ships damaged by ‘projectiles’ in Strait of Hormuz
US Moves Against Iranian Mine Ships, Sinks Over a Dozen: Reports
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.
