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

Published 02/24/2020, 07:03 AM
Updated 02/24/2020, 07:21 AM
© 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%.

Latest comments

Now, watch the Dow go up 400 pts tomorrow.
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...
ok
sideways till N.Y open.Then big fight
ok
People are going crazy because of a flu virus. 🤭
China market showing stability then why other market tumble
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