Stock futures pointed to a higher open as Wall Street tried to rebound from its worst week since the financial crisis amid fears of the coronavirus outbreak.Posted on March 2, 2020
The rise in futures masks what was a volatile overnight session where Dow Jones Industrial Average futures traded in a range of more than 1,000 points, indicating this week may be as volatile as last week as well.
Dow futures briefly fell more than 500 points in overnight trading before recovering. The Dow, S&P 500, and Nasdaq Composite all fell more than 10% last week, their biggest weekly declines since October 2008. They also entered correction territory, down more than 10% from all-time highs notched earlier in February.
Those declines came after a sharp increase in coronavirus cases outside of China. The number of cases continued to increase over the weekend, including in the U.S.