U.S. stock futures tumbled Thursday, on the heels of President Donald Trump’s address to the nation, and following another steep selloff on Wall Street that snapped a more-than-decade-long bull market for the Dow.
The president spoke live from the Oval Office at 9 p.m. Eastern, and detailed plans on how the government is addressing the spreading coronavirus outbreak, including economic stimulus plans. Most notably, Trump said travel between the U.S. and Europe will be suspended for 30 days, beginning Friday.
Dow Jones Industrial Average futures were about flat before the address, but tumbled more than 1,000 points immediately after Trump spoke, and into the open of European markets were off 1,120 points, or 4.8%, to 22,455. S&P 500 futures and Nasdaq-100 futures fell more 4.4% as well.
Earlier, the Dow plunged 1,464.94 points, or 5.9%, to close at 23,553.22, marking a bear market, widely defined as a drop of at least 20% from a recent record intraday peak. That ended the blue-chip gauge’s 11-year bull-market run.
Source: Marketwatch