US stock futures tumble after big Fed rate cut, virus fallout

US stock futures tumble after big Fed rate cut, virus fallout

U.S. stock index futures tumbled after resuming trading on Sunday after the U.S. Federal Reserve slashed rates back to near zero to help the global economy and investors digested the latest fallout from the escalating coronavirus pandemic.

Traders work on the floor of the New York Stock Exchange (NYSE) near the close of trading in New Yo
FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) near the close of trading in New York, U.S., March 12, 2020. REUTERS/Brendan McDermid

NEW YORK: U.S. stock index futures tumbled after resuming trading on Sunday after the U.S. Federal Reserve slashed rates back to near zero to help the global economy and investors digested the latest fallout from the escalating coronavirus pandemic.

S&P 500 e-minis were down 115.75 points, or 4.29per cent, with 33,056 contracts changing hands. Nasdaq 100 e-minis were down 326 points, or 4.12per cent, in volume of 4,176 contracts. Dow e-minis were down 842 points, or 3.66per cent, with 987 contracts changing hands.

(Reporting by Lewis Krauskopf; editing by Diane Craft)

Source: Reuters

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