Dow Jones, S&P 500 and Nasdaq futures lost more than 4% after the president’s speech.
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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.
In this way, the Dow Jones futures lost 987 points (-4%), while those of the S&P 500 and Nasdaq fell 113 points (-4.1%) Y 361 points (-4.5%)respectively.
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“Travel restrictions are equivalent to slower global economic activity“In this context, declared Stephen Innes, chief global markets strategist at AxiTrader, whose words are collected by MarketWatch.
Previously, the Dow Jones lost this Wednesday 1,467 points (-5.86%) to settle at 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 measurements that you have decided to take in the framework of the prevention of spread of the new coronavirus, covid-19, and the fight against the disease it causes.
“I will soon take unprecedented emergency measures“said the head of the White House, noting that it will provide financial help workers who are sick, quarantined, or caring 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’re bringing together the full power of the federal government and the private sector to protect the American people, “Trump said, noting that it is the”more aggressive and comprehensive effort to face a foreign virus in modern history. “
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