Sell-off intensifies, Dow set for 500-point drop, 10-year sinks

A trader will work ahead of the closing bell at the New York Inventory Trade (NYSE) on September 20, 2019 in New York City.

Johannes Eisele | AFP | Getty Photographs

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7:05 am: Stock market-off accelerates, Dow established to drop extra than 500 factors at the open

It can be been a unstable 7 days of whipsaw industry moves, and Friday is shaping up to be the exact same story on the Road. U.S. stock futures are pointing to sharp losses at the open, with the Dow Jones Industrial Normal set to slide additional than 500 factors for a decline of 2.2%. The S&P 500 is set to open down 2.2%, whilst the Nasdaq is established to drop 3%.

As the coronavirus outbreak proceeds to spook marketplaces, traders are shedding equities in favor of so-termed harmless haven belongings. The generate on the U.S. 10-year Treasury is at an all-time reduced, and the utilities sector is on rate for its very best 7 days ever.

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