New York/Hong Kong (CNN Business)
- US stock futures fall after Trump suspends travel between the US and Europe
US stock futures fell Wednesday evening after President Donald Trump announced that travel from Europe to the United States will be suspended for 30 days, beginning Friday at midnight.
Dow (INDU) futures fell 330 points, or 1.4%, while S&P 500 (SPX) futures fell 1.37% and Nasdaq (COMP) futures were down 1.4%.
The suspension does not include the United Kingdom.
Trump made the announcement during an address to the nation about the novel coronavirus outbreak, which has surpassed 115,000 cases worldwide. More than 4,000 people have died.
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The declines followed another volatile day in a roller coaster week for the markets driven by the novel coronavirus outbreak and plummeting oil prices.
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Both the S&P 500 and the Dow slipped into bear market territory — defined as a drop of more than 20% from the most recent high. But only the Dow closed the day in a bear market.
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Two other key market indexes, the Dow Jones Transportation Average (DJT) and the small-cap focused Russell 2000 (RUT), are already in a bear market. The novel coronavirus has taken a massive toll on global markets and economies.
