U.S. stocks plunged Thursday in their worst day since the 1987 crash. The Dow Jones Industrial Average fell 10%, and the S&P 500 and Nasdaq tumbled nearly as much to join the Dow in a bear market.
The furious falls in share prices on rising fears of a global slowdown due to the rapid spread of coronavirus occurred despite a $1.5 trillion intervention in short-term funding markets by the Federal Reserve.
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U.S. stock futures surged in volatile trading on Friday as Wall Street tried to recoup some of the sharp losses suffered in the previous session — the worst since the “Black Monday” market crash in 1987.
S&P 500 futures jumped more than 5% to reach their “limit up” level. These limit levels act as a ceiling for buying until regular trading begins and are meant to insure orderly trading.
Read more: WSJ and CNBC.
