Futures hit ‘limit down,’ ETFs point to massive losses at the open

Traders work on the floor of the New York Inventory Exchange (NYSE) in New York.

Brendan McDermid | Reuters

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7:12 am: Shares are set for a huge tumble even right after Fed stimulus introduced

U.S. shares ended up headed for an additional sharp downturn on Monday as worries more than the coronavirus’ impression on the world wide economy outweighed the monetary stimulus introduced by the Federal Reserve on Sunday. Dow, S&P 500 and Nasdaq 100 futures were all at their “restrict down” amounts, trading 5% beneath the indexes’ previous shut. The ETFs that monitor the significant averages pointed to even a lot more pain than futures, falling extra than 9% in the premarket. The Fed slice costs to primarily zero on Sunday and released a massive $700 billion easing system. —Imbert

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