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.
Nearly 20 states sue HHS over declaration to restrict gender transition treatment for minors
Watch: Thieves drag ATM through Texas convenience store in Christmas Eve theft attempt
Trump takes NORAD Santa calls with children, praises ‘clean, beautiful coal’ and ‘high-IQ’ person
ICE agents open fire on van driver who allegedly tried to run them over on Christmas Eve
Activists tied to LA bombing plot indicted on terrorism charges
DOJ discovers more than 1M potential Epstein records, further delaying file release
Post-Christmas Disaster: How 26 Million Pounds of Molasses Killed or Injured 170 in the Streets of Boston in 1919
Pentagon to send 350 National Guard troops to New Orleans as violent crime surges ahead of major events
Alito rips Supreme Court majority as ‘unwise’ for blocking Trump’s National Guard plan
Greta Thunberg Arrested After Caught Supporting Literal Anti-Jewish Terrorist Org – This Is the Kid the Left Platformed as a God for Years
California farming tycoon arrested in wife’s killing
Massie questions control of DOJ X account after report alleged White House takeover
New charges against DC National Guard shooting suspect open death penalty door
Shock and Awe: Fiery Rubio Imposes Unprecedented Sanctions on European Elites Who Attempted to Censor Americans
US Set to See Largest One-Year Decline in Murders in History: Crime Expert
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.
