Dow Jones, S&P 500 and Nasdaq futures lost more than 4% after the president’s speech.
Wall Street futures have seen a drop, after US President Donald Trump announced Wednesday the suspension of travel from Europe, except the United Kingdom, to the US. by the spread of the new coronavirus.
Thus, the futures of the Dow Jones lost 987 points (-4%), while those of the S&P 500 and Nasdaq fell 113 points (-4.1%) and 361 points (-4.5%), respectively.
“Travel restrictions equate to slower global economic activity,” said Stephen Innes, chief global markets strategist at AxiTrader, whose words MarketWatch notes.
Previously, the Dow Jones lost 1,467 points (-5.86%) this Wednesday, reaching 23,551. For its part, the Nasdaq and S&P 500 also plummeted: the first fell 392 points (-4.70%) to 7,952 and the second lost 141 points (-4.88%), remaining at 2,741.
This decline brought the Dow Jones to the bear market and ended the uptrend, which lasted 11 years.
“Unprecedented emergency measures”
In a television speech, the President of the United States, Donald Trump, announced on Wednesday night the measures he has decided to take in the framework of preventing the spread of the new coronavirus, covid-19, and the fight against the disease it causes.
“I will take unprecedented emergency measures soon,” said the White House chief, noting that he will provide financial aid to workers who are sick, remain in quarantine, or care for people infected with the coronavirus. He added that the US it will inject an additional $ 200 billion to tackle the covid-19 pandemic.
“We are bringing together the full power of the federal government and the private sector to protect the American people,” Trump said, noting that this is “the most aggressive and comprehensive effort to deal with a foreign virus in modern history.”