INSUBCONTINENT EXCLUSIVE:
US stock index futures tumbled on Wednesday, pointing to another volatile session for Wall Street on fears that even dramatic stimulus
measures would not be able to avert a deep coronavirus-driven recession.
S-P 500 futures were down 92 points, or 3.69%, at their daily down
trading limit, while the SPDR S-P 500 ETFs tumbled 5.6%.
Wall Street's main indexes had bounced on Tuesday from a massive selloff a day
earlier, as the Trump administration pressed for a $1 trillion stimulus package and the Federal Reserve relaunched a plan to purchase
short-term corporate debt.
However, with the COVID-19 disease still spreading rapidly across the globe, investors are alarmed about the
extent of the blow to consumer spending, businesses and supply chains, sending financial markets into a tailspin.
The rout has also
pressured perceived safe havens, such as gold, as traders offloaded their damaged positions, particularly from the aerospace sector.
At 5:54
ET, Dow e-minis were down 821 points, or 3.92%, and Nasdaq 100 e-minis were down 328 points, or 4.43%
