Stock market live updates: Futures point to 5% drop at the open, oil tanks 20%, 10-year hits record low

U.S. stock futures are pointing to major losses on Monday.

Spencer Platt | Getty Images5:45 am: Major averages set to crater 5% at the open, Dow on track for 1,300-point drop. U.S. stock futures are indicating a 5% drop for the major averages at the open, with the Dow set to decline more than 1,300 points.

The sharp move lower comes as investors brace for the economic fallout from the spreading coronavirus, while a shockingThe sharp declines in the futures market signaled more turbulence ahead after a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight.for exclusive insights and analysis, and live business day programming from around the world.

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