As of 5 a.m. ET, Dow Jones Industrial Average futures pointed to an implied opening plunge of about 700 points on Monday. S&P 500 and Nasdaq futures also pointed to steep declines at Monday’s open.
The moves came as investors continue to watch developments surrounding the
Meanwhile, outside of Asia, Italy has been the worst affected country so far, with more than 130 reported cases and three deaths.
“I’ve now come to the view that equity markets, global equity markets, have to reprice to take into account or fully discount the dramatic economic impact that all of this is going to have,” Jonathan Pain, author of The Pain Report, told CNBC’s “Street Signs” on Monday morning in Asia. “I believe that
“I don’t think there’s a letter in the
Fears surrounding the economic impact of the spread of the
Friday’s losses sent the major averages lower on a weekly basis for the first time in three weeks.
— CNBC’s Fred Imbert contributed to this report.