- Nov 2005
Futures contracts tied to the major U.S. stock indexes fell on Wednesday night after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
The move comes after the Dow Jones Industrial Average ended its historic 11-year bull market run by closing in a bear market.
As of 10:17 p.m. ET Wednesday, Dow futures were down 1,032 points, indicating a loss of about 992.22 points at Thursday’s open. S&P 500 and Nasdaq 100 futures were also sharply lower.
In his address, Trump announced travel from Europe will be suspended for 30 says as part of the government’s response to the coronavirus. Trump also said the administration would provide financial relief for workers who are ill, caring for others due to the virus or are quarantined.
However, these announcements were not enough for investors who were looking for a more robust fiscal response to curb potentially slower economic growth.
The move came after yet another wild session on Wall Street and the demise of the Dow's record-setting bull market run that began in March 2009.
Are the Trumpsters tired of all this "winning" yet?
I pity the people who acted upon thoughts that a week or two after the drop started on Feb 21 would be a great time to jump in.
Two weeks after Feb 21 => March 6th.
25,853 - Dow Jones on March 6th closure.
23,551 - Dow Jones closing today.