QUEENIE’S BLOG

Dow futures drop 5%, hitting 'limit down' at the start of futures trading Sunday

Dow futures fell 5%, hitting the “limit down” maximum allowable limit and halting futures from falling further within minutes after futures trading began Sunday. Dow (INDU) futures dropped 954 points. S&P 500 (SPX) and Nasdaq (COMP) futures also fell around 5%. The sharp drop in stock futures points to another volatile week for Wall Street as coronavirus continues to take a toll on public health and the economy in the United States and elsewhere. The decline came shortly before a key procedural Senate vote on a massive stimulus package to help Americans handle the crisis failed Sunday evening, pushing out the timeline for relief. Central banks and governments around the world last week announced a wave of stimulus measures aimed at bolstering economies and calming harried financial markets.But the virus has continued to spread rapidly around the world — there are now more than 325,000 cases worldwide — forcing further travel restrictions, shut downs and disruptions for businesses, and threatening the global economy.

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