Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP

Dow futures halted trading overnight as the Fed's Bullard outlined his belief that coronavirus could force 30% unemployment and -50% GDP.

Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP AIpVc6y

Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP AIpVc6y

Stock market futures crashed limit down across the board on Sunday as the coronavirus crisis continued.
Fueling the capitulation, Fed President James Bullard cited the possibility of a -50% GDP reading in Q2 alongside 30% unemployment.
The Dow Jones will face a rocky open unless Congress can somehow pass a funding bazooka to keep the U.S. economy afloat.

Dow futures crashed limit down at the open of trade on Sunday as Federal Reserve St. Louis President James Bullard made some dire economic predictions.
U.S. stock markets also nervously eyed the parabolic rise in confirmed coronavirus infections.

Dow Futures Limit Down As U.S. Coronavirus Infections Top 30,000

All three of major U.S. stock market indices fell immediately at the open of trade. The Nasdaq, Dow Jones and S&P 500 all plummeted 5%, triggering the circuit breaker within just a few minutes.

In the commodity sector, crude oil lost 10% as Saudi Arabia continued to wage its price war against Russia.
Despite the risk-off conditions, the price of gold was trading flat. Digital asset bitcoin dipped below $6,000 after a relatively stable weekend.
There was little good news concerning coronavirus, as the number of confirmed cases in the U.S. soared past 30,000. America is now the third-most infected country in the world behind China and Italy.

In the commodity sector, crude oil lost 10% as Saudi Arabia continued to wage its price war against Russia.
Despite the risk-off conditions, the price of gold was trading flat. Digital asset bitcoin dipped below $6,000 after a relatively stable weekend.
There was little good news concerning coronavirus, as the number of confirmed cases in the U.S. soared past 30,000. America is now the third-most infected country in the world behind China and Italy.

Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP Goldman-sachs-layoffs

Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP Goldman-sachs-layoffs

The Federal Reserve’s shock and awe efforts continue to escalate to new heights, with seemingly no limits on what it will buy. Given the current trajectory of the central bank’s balance sheet, it seems very likely that Congress will give Jerome Powell and the FOMC the green light to purchase long-term corporate debt.
The fiscal bazooka is growing too, as Congress may approve an additional $450 billion package to throw on top of the ever growing pile.

Nordea Research economists Martin Enlund and Andreas Steno Larsen believe that rather than worrying about government intervention, fiscal stimulus is absolutely required to keep the U.S. economy alive during the pandemic:

More: https://www.ccn.com/dow-futures-crash-1000-points-as-feds-bullard-cites-50-u-s-gdp/

Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP

Dow Futures Limit Down As U.S. Coronavirus Infections Top 30,000

Dow Futures Crash 1,000 Points as Fed’s Bullard Cites -50% U.S. GDP

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