Dow futures plunge 300 points, putting it on the brink of a correction

Dow futures plunge 300 points, putting it on the brink of a correction


Stock futures tumbled Thursday as fears mount that the deadly coronavirus could be spreading to the U.S. as the number of worldwide cases top 81,000.

Dow futures dropped 300 points while Standard & Poor’s 500 futures slumped 1%.

Heading into Thursday, both averages were teetering on the brink of a correction, generally defined as a decline of 10% from a recent high. The Dow Jones industrial average is off 8.8% from its Feb. 12 record while the S&P 500 index was just under 8% off its all-time high reached Feb. 19. 

President Donald Trump announced late Thursday the U.S. was stepping up its efforts to combat the virus outbreak. Shortly after Trump spoke, the government announced that another person in the U.S. was infected — someone in California who appears not to have the usual risk factors of having traveled abroad or being exposed to another patient.


Source link

Categorized as Top Stories

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.