Dow futures drop 5%, hitting ‘limit down’ at the start of futures trading Sunday
New York (CNN Business)Dow futures fell 5%, hitting the “limit down” maximum allowable limit and halting futures from falling further within minutes after futures trading began Sunday.
The sharp drop in stock futures points to another volatile week for Wall Street as coronavirus continues to take a toll on public health and the economy in the United States and elsewhere.
The decline came shortly before a key procedural Senate vote on a massive stimulus package to help Americans handle the crisis failed Sunday evening, pushing out the timeline for relief.
Central banks and governments around the world last week announced a wave of stimulus measures aimed at bolstering economies and calming harried financial markets.
But the virus has continued to spread rapidly around the world — there are now more than 325,000 cases worldwide — forcing further travel restrictions, shut downs and disruptions for businesses, and threatening the global economy.
