U.S. stock futures tumble 4% on coronavirus fears in pre-market trade

[Yo_Mama_Been_Loggin]

(Reuters) - The price of futures contracts for the S&P 500 index, a Wall Street benchmark, fell more than 4% on Sunday as off-hours trading for U.S. equity markets resumed, a sign that investors fear the toll from the fast-spreading coronavirus will deepen.

Italy, the country hardest hit by the virus in Europe, essentially locked down much of its wealthy north, including the financial capital Milan, in a drastic attempt to contain an outbreak that saw the number of deaths leap sharply on Sunday.

More than 107,000 people have been infected worldwide and 3,600 have died, according to a Reuters tally. In Italy, the number of cases jumped 25% in a 24-hour period to 7,375, while deaths climbed 57% to 366. It was the largest daily increase for both readings since the contagion came to light on Feb. 21.

Contracts for the S&P 500 emini <EScv1> fell 4.2% to 2839. The decline indicates how much the S&P 500 might fall when trading begins on Monday.

https://finance.yahoo.com/news/u-stock-futures-tumble-open-222352938.html

Tired of winning yet?

[sandensea]

1. The Trump slump

The hitherto high-flying stock market was Cheeto's trump card (no pun intended).

The one factual claim that was hard to argue with (although we all know the market went up much more under Obama).

All gone now.

[Demovictory9]

2. probably the drop in oil prices is hurting the market also

[Crowman2009]

3. That's the only industry I want to see suffer!

I remember when these smug assholes were saying how great their oil worker jobs are, and that the unemployed should stop asking for handouts. Now these Drumpf humping hypocrites will be begging for the government to save them.

[captain queeg]

4. I hate to say it (I'm sure some folks are feeling the pain), but I smile when stocks drop

Because Trump has taken all the credit for stocks going up, now he’s taking the fall too. Of course he’s try to blame someone, anyone, else it’s hurting him an the rethugs. The rich people aren’t happy about it, so they’re not happy with Trump. It’s the virus, but I think even more so it’s his incompetence not dealing with it.

I saw him on the news saying he’s not worried at all and will continue to have his rallies. He’s as dumb as a rock but under it all he’s starting to see the writing on the wall. His presidency and moreover his clan rallies are his most profitable scam ever. Maybe he’s starting to see the end, but those rallies are his bread and butter. He doesn’t care how many get sick or die getting infected at his rally. As long as they keep pulling in the bucks he’ll keep doing them. To admit the virus is bad and to endorse medical recommendations to avoid crowds would leave him with thousands of over priced Chinese MAGA hats and other paraphernalia.

It would be great if it were discovered that those Chinese hats (and whatever crap Ivanka is peddling) carried the flu virus.