Dow Jones futures are down more than 1,000 points as U.S. stock markets brace for likely losses Thursday after President Donald Trump’s speech on the coronavirus outbreak seemingly failed to ease investors’ concerns
NEW YORK —
The Latest on the action in the financial markets (all times local):
8:15 a.m.
Dow Jones futures are down more than 1,000 points as U.S. stock markets brace for more losses Thursday after President Donald Trump’s speech on the coronavirus outbreak seemingly failed to ease investors’ concerns.
Futures for the Dow Jones Industrial Average were showing a drop of 5%, or 1,194 points. Futures for the S&P 500 declined 5%, or about 138 points.
On Wednesday, the Dow dropped 1,464 points, dragging it 20% below the record set last month and putting the index in a bear market. If the S&P 500 closes down more than 1%, than would put the index in bear market territory and bring an end to the longest bull market in U.S. history.
Overseas markets suffered steep losses. Most stock markets in Asia fell more than 3% and markets in Europe are seeing declines of 6% or more.