Dow futures plunge, extending coronavirus-fueled swings

Twitter suspends travel as companies grapple with coronavirus

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U.S. stock futures retreated Thursday as coronavirus-fueled swings around global markets continued over the potential economic fallout from the outbreak.

Dow futures dropped 500 points while Standard & Poor’s 500 futures fell 1.9%. 

The declines come a day after the Dow Jones industrial average rallied nearly 1,200 points, an about-face after shedding nearly 800 points on Monday. Health care stocks jumped Tuesday after former Vice President Joe Biden solidified his contender status for the Democratic presidential nomination. Investors see him as more business-friendly than Senator Bernie Sanders.

Concerns about the coronavirus disrupting global economic growth continued to weigh on investors this week as countries around the world extended travel restrictions. Investors expect other central banks will follow up on the Federal Reserve’s surprise move Tuesday of slashing interest rates by half a percentage point in hopes of protecting the economy from the economic fallout of the new coronavirus.

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