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Dow futures down more than 900 points, kicking off another rough week for the markets

Posted at 5:12 PM, Mar 08, 2020
and last updated 2020-03-08 19:12:31-04

Stock futures were down again Sunday evening as the novel coronavirus outbreak continues to roil financial markets.

Dow futures fell more than 970 points, or 3.8% in early trading Sunday. The S&P futures were down around 4% and Nasdaq futures were down 3.7%.

Wall Street has faced heavy losses for the past several weeks due to fears surrounding the coronavirus. During the last week of February, US stocks had their worst week since the financial crisis, and the economic disruption caused by the virus doesn't appear to be letting up.

The scale of the coronavirus outbreak spread rapidly in the United States last week. At least 33 states now have cases of the virus, and many major US companies have begun encouraging or allowing employees to work from home.

Stock futures may have also taken a hit Sunday from a conflict over oil prices and supply that broke out at an OPEC meeting Friday.

Global markets have also been battered in recent days. About $9 trillion was wiped off global stocks in nine days, Bank of America said in a research note after US markets closed deep in the red again on Thursday.

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