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U.S. Index Futures Drop With Investors Weighing Virus Threat

Stock MarketsMar 05, 2020 05:01AM ET
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(Bloomberg) -- U.S. equity-index futures extended drops as investors weighed whether global efforts to contain the coronavirus outbreak will be enough to soften its economic impact.

S&P 500 index futures contracts expiring in March slid 1.3% at 8:50 a.m. in London. Contracts dropped 1.2% for the Dow Jones Industrial Average and 1.1% for the Nasdaq 100.

In Europe, the Stoxx 600 Index erased earlier gains of as much as 0.7% to trade little changed as cyclical sectors slid, with miners, carmakers and banks dropping the most.

“A sense of caution remains on top of investors’ minds as the virus situation continues to escalate in North America,” said Margaret Yang, a strategist at CMC Markets Singapore. “The Fed cut effect is fading and can be overtaken by virus concern.”

California has declared a state of emergency to give authorities greater leeway in combating the coronavirus, while the death toll from the disease surpassed 3,000 in China.

The S&P 500 had surged into the close Wednesday, nearly matching Monday’s rally that was the best in 14 months. Health-care firms led the spike, rising the most since November 2008, as the weak performance in Tuesday’s primaries by Bernie Sanders dented the threat of policies that would upend the industry.

(Updates with European shares in third paragraph.)

U.S. Index Futures Drop With Investors Weighing Virus Threat
 

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Comments (7)
Brady Murray
Brady Murray Mar 05, 2020 7:42AM ET
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Virus saga getting old. Everyday same thing. 2 more people dead out of 3.5 billion. Come on the flu is going around. 18k dead this year alone in the US.
Jim Tucci
Jim Tucci Mar 05, 2020 6:21AM ET
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the doctor's office didn't even have a way to test for the virus when I called about getting my sick kid in who had a fever for 3 days. they got rude and said,"we would have to get the CDC involved". I thought wow, was just trying to do my part to keep her out of school if it was the virus.
Junk Man
Junk_Man Mar 05, 2020 6:21AM ET
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Many, including Trump is viewing this as a type of flu and it will go away. Wuth that attitude, we will see this thing spread quickly... Sad.
Lake Lot
Lake Lot Mar 05, 2020 6:21AM ET
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You dtuoid , keep kid home abd iut of docyor office
Randall Paul
Randall Paul Mar 05, 2020 6:21AM ET
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very responsible of you. this is what is needed brushing this off will create as bad situ
Nicholas Lee
Nicholas Lee Mar 05, 2020 5:44AM ET
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Yesterday spike up is purely for Biden...haha Joker...
Nicholas Lee
Nicholas Lee Mar 05, 2020 5:38AM ET
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That's for sure..As Virus still on the spread...and more spread will be. They are investor for sure.
Fernando Lazarini
Fernando Lazarini Mar 05, 2020 5:29AM ET
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interesting how fast investors change their minds....
Dee Mehta
DMFINANCE Mar 05, 2020 5:29AM ET
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They changed yesterday and sold at remium. Remainers will take loss
Aditya Aditya
Aditya Aditya Mar 05, 2020 5:25AM ET
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algos
Anderson Fitzgerald
Anderson Fitzgerald Mar 05, 2020 5:20AM ET
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lousy spike up from Biden and sudden pullback because of virus? those banksters need to go to jail
ottin nerner
ottin nerner Mar 05, 2020 5:20AM ET
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they are just liquidating....
 
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