On Wednesday’s trading session, the Dow Jones futures tumbled 3.64% (727 points) at 11:31 pm ET, Nasdaq 100 futures slid 2.08% at 11:32 pm ET while the S&P 500 futures dropped 3.09% at the same time as investors remained concerned about the coronavirus pandemic.
Earlier in the day, US President Donald Trump signed the $104 billion coronavirus relief package which is meant to support American workers and economy by guaranteed paid sick leave and free testing for the disease.
China’s National Health Commission (NHC) said the number of people affected by COVID-19 pandemic in Wuhan has not increased in the past day, for the first time since the outbreak started in the city at the end of last year. However, in mainland China, the number of infections rose by 34, an increase in the daily rise in cases compared to yesterday’s 13 reported.
Meanwhile, crude prices continued to fall on Wednesday with North American benchmark West Texas Intermediate dropping 18% to its lowest level in over 18 years. The decline has been sparked by growing talks of a potential global recession due to the virus outbreak as well as the ongoing oil price war between Saudi Arabia and Russia.
