U.S. Stock Futures Sink on Growing Concern of Outbreak’s Economic Impact

Dow futures drop more than 300 points; crude prices sink 2%

by Mike Murphy
Market Watch

U.S. stock market futures sank late Sunday as the spread of coronavirus raised worries that global economic growth could take a hit.

Dow Jones Industrial Average futures fell more than 300 point soon after electronic trading opened late Sunday. S&P 500 futures and Nasdaq Composite futures also fell more than 1% each.

On Saturday, the International Monetary Fund warned the virus outbreak could reduce global economic growth by 0.1% this year, and drag China’s annual growth 0.4 percentage points lower than January estimates.

“The world economy is facing a clear slowdown and this slowdown might be reinforced by the so-called coronavirus,” French Finance Minister Bruno Le Maire said at a G-20 finance meeting in Saudi Arabia, according to the Associated Press.

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