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The Breakfast Briefing: U.S. Futures Drop After S&P 500's Best Comeback Since 2009
FYI: U.S. stock-index futures dropped on Thursday, signaling a reversal at the open after the biggest rally in American equities since 2009.
S&P 500 Index futures contracts expiring in March fell 1.5 percent as of 10:26 a.m. in London after rising as much as 0.4 percent in Asian trading. That came after the underlying gauge rallied 5 percent Wednesday. Dow Jones Industrial Average contracts were also down 1.5 percent while those on the Nasdaq 100 were down 1.8 percent.
In Europe, markets returned from the Christmas break to reverse early gains of as much as 0.5 percent, falling 0.6 percent with all the sub-groups in the red, led by drops in utilities and autos shares. With only three trading days left, equities in the region are still heading for the worst year since the 2008 financial crisis.
Markets across the globe have whipsawed this month as investors worried about the prospects for U.S. growth, a partial shutdown in the U.S. government has continued, and Treasury Secretary Steven Mnuchin’s move to quash investors’ concerns stoked worries earlier this week. Regards, Ted
