Selling continues as futures tumble another 4-5%

S&P 500 and Nasdaq Composite futures are growling, off another 4.5% in overnight action, as the the two indexes look to join the Dow Jones Industrial Average, which tumbled into a bear market on Wednesday.

DJIA futures are off another 1,200 points, or 5%, after an address from President Trump failed to quell concerns over a coronavirus-fueled economic slowdown.

All travel to from Europe to the U.S. was suspended for 30 days, threatening more disruptions to the world economy. The SBA was also instructed to provide low interest loans, while efforts were announced on deferred tax payments and payroll tax relief, but investors seemed to have been looking for more.

Crude futures are off 4.1% to $31.63/bbl, gold is 0.3% lower at $1636.70 and the 10-year Treasury yield is down 6 bps to 0.77%.

https://seekingalpha.com/news/3550839-selling-continues-futures-tumble-another-4minus-5