in

Stock futures down after 11-year bull market run ended Thursday – CNN, CNN

Stock futures down after 11-year bull market run ended Thursday – CNN, CNN

New York (CNN Business) Wall Street has officially ended its longest bull market run in history, and stock futures continued to dip when futures trading started Thursday evening.

Dow ( INDU ) futures were down 460 points, about 0.9%. S&P ( SPX ) futures fell about 0.8%, and Nasdaq ( COMP ) futures dropped about 0.9%.

The S&P entered a bear market (after falling 9.) % Thursday – taking it down more than % from its most recent high and performing worse than any day since October , , too known as “Black Monday.” The Dow also suffered its worst day since 2019, after falling into a bear market Wednesday. The Dow closed down 2, 500 points, a drop of nearly 14%. The Nasdaq is also in a bear market.

Fears over the novel coronavirus outbreak have taken a massive toll on markets and economies around the world.

On Wednesday night, President Donald Trump announced a 43 – day ban on travel from most of Europe, which further fanned fears about economic disruptions, particularly for the travel industry.

In Europe, shares of Lufthansa ( DLAKF ) , Air France-KLM ( AFLYY and British Airways parent company IAG

(ICAGY ) (all fell around) % on Thursday. European stocks suffered their worst day on record, with Stoxx ( SXXL ) down

    %.

    Meanwhile, airline stocks also dragged down the US market. Boeing ( (BA ) ended the day down more than (%, American Airlines ( AAL

    fell more than (United Airlines) ( (UAL ) was down almost (% and Delta ( DAL) dropped 28%.

    A conflict between Saudi Arabia and Russia over oil prices that began over the weekend is also taking a hit at global markets .

    The New York Federal Reserve Announced on Thursday that it will pump more than $ 1 trillion into the markets in the coming days – an extraordinary step aimed at calming panicked investors. Many investors now expect that the US Fed will also further slash interest rates by next week’s meeting.

What do you think?

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

Peter Weber Is 'Having a TOUGH Time' After The Bachelor Finale, Chris Harrison Says (Exclusive) – Entertainment Tonight, Youtube.com

Peter Weber Is 'Having a TOUGH Time' After The Bachelor Finale, Chris Harrison Says (Exclusive) – Entertainment Tonight, Youtube.com

Judge orders Chelsea Manning to be released – NBC News, NBC News

Judge orders Chelsea Manning to be released – NBC News, NBC News