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.
Have You Seen Him? Police Search for Murderer Who Escaped Tennessee Prison
Breaking: Comey Charged for Reportedly Leaking National Security Secrets in 2016
Not even sky high gas prices or the Iran war will stop Trump supporters voting MAGA
DOJ seeks to prosecute Comey over alleged national defense disclosure
Trump says Brazil election likely ‘rigged’ as Bolsonaro demands Lula’s victory be annulled
Illegal immigrant accused of beheading Iwo Jima monument granted bond
Man found dead on Disneyland property near entrance to ‘Happiest Place on Earth’
Four things to know about the Israeli election
Omar’s menacing message hidden in seemingly innocent tweet exposed: ‘Crushed the enemy’
Haley Stevens ripped by fellow Dems for refusing to explicitly back El-Sayed: ‘Stay the f— off television’
WJ Straw Poll: Rubio Opens Massive Lead Over Vance as Massie Takes Another Hit
Winning: Violent Crime Plunged Nationwide During Trump’s First Year Back in Office
Voice of Bugs Bunny and Daffy Duck Dies Suddenly at Age 46
Trump-appointed judge slams door on DOJ as court losses pile up days ahead of midterms
Ilhan Omar joins ‘polarizing and dangerous’ streamer at campaign event despite Democratic 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.
