Stocks poised to open higher after worst day since 1987

Stock market corrections, on average, result in drops of 14%

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Global stocks swung wildly Friday after Wall Street suffered its biggest drop since the “Black Monday” crash of 1987.

U.S. stock futures swayed between sharp gains and losses, with Dow futures currently up 1,000 points after plunging 2,352 points, or 10%, on Thursday for its worst loss since its nearly 23% drop on Oct. 19, 1987. Dow futures dropped 700 points overnight in volatile trading. 

The Standard & Poor’s 500 tumbled more than 20% from its February record Thursday, sliding into a bear market and officially ending Wall Street’s historic 11-year bull market run. On Friday, S&P 500 futures surged 5%, triggering automatic shock absorbers.

The rout has come amid cancellations and shutdowns across the world, including Trump’s suspension of most travel to the U.S. from Europe. Worries have grown that the White House and other authorities around the world can’t or won’t counter the economic damage from the outbreak any time soon, threatening to end the decade-long economic expansion.

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By Javier Manning

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