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Breaking: U.S. Futures Dive; Dow Set to Drop 700 Points

Stock MarketsFeb 24, 2020 07:21AM ET
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© Reuters.

By Kim Khan

Investing.com - Wall Street is set to plunge at the open Monday as investors flee risk assets for safety on more evidence the Covid-19 coronavirus is far from being contained globally.

  • S&P 500 futures are down 2.2%, indicating a fall of 74 points at the open. Dow futures are looking at a plunge of 730 points, off 2.5% and Nasdaq 100 futures are down 2.7%, indicating a drop of 255 points when trading begins.

  • Worries snowballed over the weekend as the numbers of cases of Covid-19 jumped in Italy, South Korea and Iran. Authorities in Italy imposed a quarantine in the north of the country and its benchmark MIB index tumbled 4.6%.

  • Safe havens rallied sharply, as expected, with gold futures rising, 2.1%, closing in on $1,700 per ounce and the yield on the 10-year Treasury tumbling below 1.4% to levels not seen since 2016. Its all-time yield low is 1.32%.

Breaking: U.S. Futures Dive; Dow Set to Drop 700 Points
 

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Comments (8)
Jeffrey Cachia
Jeffrey Cachia Feb 24, 2020 4:41PM ET
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Now, watch the Dow go up 400 pts tomorrow.
Jack Drummond
Jack Drummond Feb 24, 2020 9:45AM ET
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still room to grow in gld
vincent li
vincent li Feb 24, 2020 9:14AM ET
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guys...stay calm...Ray Dalio has a 1bn bet the market will be down by march 2 ...there are more bulls to keep the market up above his expiry level...
Feb 24, 2020 8:28AM ET
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Christian Zeko
Christian Zeko Feb 24, 2020 8:28AM ET
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sideways till N.Y open.Then big fight
Feb 24, 2020 8:22AM ET
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Burren Waffett
Burren Waffett Feb 24, 2020 8:13AM ET
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People are going crazy because of a flu virus. 🤭
suraj devekar
suraj devekar Feb 24, 2020 7:32AM ET
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China market showing stability then why other market tumble
 
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