News Opinons Politics

U.S. Stock Futures Slam Into ‘Limit Down’ Guard Rails Again

Trader Michael Gallucci prepares for the day's activity on the floor of the New York Stock Exchange, Monday, March 9, 2020. Trading in Wall Street futures has been halted after they fell by more than the daily limit of 5%. (AP Photo/Richard Drew)

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.



Conservative House Republicans Threaten to Sink Biden, McCarthy Deal: ‘We’re Going to Try’
As BLM Collapses, What Could Be Left Standing Will Make the Scam Clear to Everyone
Ron DeSantis scorches ‘delusional’ Trump over Florida crime claims: ‘He’s been attacking me by moving left’
Jeffries shuts down McCarthy claim that Dems are ‘upset’ over debt deal: ‘Have not been able to review’
‘The choice lies with the parent’: Texas dad supports regulating book content in libraries to ‘protect kids’
Biden, McCarthy Come to Initial Debt Ceiling Agreement – Here’s What’s in the Deal
Target Pulls ‘Satanic’ Merch Off Shelves, Here’s Why the Creator Says He’s Glad It’s Gone
Gavin Newsom’s ambitious climate plans face Democratic roadblock
Speaker McCarthy defends budget compromise as conservatives balk: ‘A step in the right direction’
Steelers QB Has SUV Stolen During Interview, Then Realizes Important Item He Left Inside It
GOP Governor Cozies Up with ‘The View,’ Claims Trump Will Not Win Nomination in 2024
NY homeowner accused of fatally shooting woman who pulled into wrong driveway blamed ‘hunters’: court docs
New Mexico State Police investigating shooting in Red River
Bible Passage Hidden for 1,500 Years Found With New Tech – Huge Proof It Really Is God’s Word
Biden and McCarthy speak by phone after Speaker cites ‘progress’ in talks

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.

Share this article:
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter

→ What are your thoughts? ←
Scroll down to leave a comment: