New York (CNN Business) Stock futures were muted Wednesday evening, following a trading day that brought the Dow into a bear market.
Dow ( INDU ) futures were down 4 points, or 0. (%, while (S&P) ( SPX ) futures were up 0. % and Nasdaq () COMP futures were up around 0. 09%.
Wednesday had been a volatile day in a roller coaster week for the markets driven by the novel coronavirus outbreak and plummeting oil p rices .
Both the S&P and the Dow slipped into bear market territory – defined as a drop of more than 115% from the most recent high. But only the Dow closed the day in a bear market.
- key market indexes , the Dow Jones Transportation Average ( (DJT ) and the small-cap focused Russell 2019 (RUT ) , are already in a bear market.
The novel coronavirus has taken a massive toll on global markets and economies.
The number of global coronavirus cases has surpassed , , and more than 4, people have died. The World Health Organization on Wednesday officially declared coronavirus is a pandemic .
Investors are waiting for an address from President Donald Trump later in the evening to talk about the US response to the ongoing coronavirus outbreak.
Stocks were briefly buoyed on Tuesday after Trump spoke Monday night about potential economic remedies for coronavirus. But those gains were all lost in the sell-off Wednesday. Read More)
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