Dow set to lose nearly 400 points at the open as worst week since the financial crisis continues
This discussion thread was locked as off-topic by JudyM (a host of the Latest Breaking News forum).
Source: CNBC
U.S. stock futures pointed to more losses early Friday after the major indexes suffered a tumble that sent them more than 10% below their record highs. Futures pared their initial decline after Kevin Warsh, a former Federal Reserve governor, told CNBC on Friday he expects global central banks to act soon in response to the coronavirus outbreak. The Fed has a knife. Theres a gunfight, he said on Squawk Box. You might as well go find some friends that also have knives and see if you cant to it together.
As of 7:35 a.m. ET, Dow Jones Industrial Average futures were down about 200 points and indicated an opening loss of nearly 400 points. S&P 500 and Nasdaq 100 futures also pointed to a lower open on Friday. Futures were under pressure in part because investors kept adding to their bond-market exposure. The benchmark U.S. 10-year Treasury yield touched a fresh record low. It was last at 1.18%. Yields move inversely to prices. Caterpillar a bellwether stock for global growth was the worst performer among Dow stocks in the premarket, sliding more than 3%. Apple shares slid 2.9% while Chevron and Cisco Systems dipped more than 2% each.
New Zealand and Nigeria reported overnight their first coronavirus cases. South Korea, meanwhile, confirmed more than 500 new cases. China reported 327 additional cases. The Dow plummeted nearly 1,200 points on Thursday its biggest one-day point drop ever as worries over the coronavirus possibly spreading sent stocks spiraling lower. The 30-stock average closed in correction territory along with the S&P 500 and Nasdaq Composite.
Read more: https://www.cnbc.com/2020/02/27/dow-futures-fall-100-points-after-another-massive-rout-amid-coronavirus-fears.html
There is a breaking news banner on CNBC right now saying it is the Dows biggest points drop ever.
yaesu
(8,020 posts)its just a bad dream
jayschool2013
(2,309 posts)MORE TAX CUTS FOR WEALTHY AMERICANS!!!!!
AND PRAYER!!!!
intrepidity
(7,240 posts)TIA
IronLionZion
(45,250 posts)dude must be flipping out all week
AllyCat
(16,031 posts)durablend
(7,414 posts)No money to be made in that.
NCjack
(10,279 posts)bucolic_frolic
(42,653 posts)will come home to roost very soon.
9:32AM Opened down 600 points
True Blue American
(17,972 posts)A Reporter with Trump in India said he and his staff spent every minute not in meetings watching the Market. That is the only bragging right Trump has.
smb
(3,452 posts)machoneman
(3,951 posts)candidate should say these words now and pledge to repeat same when they win!
Scalded Nun
(1,231 posts)He should have been fired out of a cannon twice already this week.
I know I'd pay to see that.
gab13by13
(20,849 posts)He can make the Fed drop interest rates and pump billions of dollars into the market, maybe even have the Fed buy some more T-Bonds.
Magats cry to me about Dems wanting free stuff but they don't consider the 1.5 trillion dollars that Trump gave to corporations and the rich as free stuff, or they just flatly deny it.
JudyM
(29,122 posts)Have to lock this because its analysis, please post in GD instead. Here are the LBN rules: