S&P 500 futures drop more than 4% after Federal Reserve slashes rates
Stock futures slid Sunday evening at the open of trading after the Federal Reserve slashed its benchmark interest rate to near zero, a sign that investors remain worried that the coronavirus will fuel a recession even with borrowing costs dropping.
Dow Jones Industrial Average futures slid about 1,040 points, or 4.6%, while S&P 500 futures fell 5% to once again hit a limit designed to stall further drops. S&P futures have hit the 5% limit down several times recently. Changes in futures don’t necessarily reflect moves...
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