U.S. Futures Drop With Dollar; Treasuries Rise: Markets Wrap [Yahoo! Finance News]
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Source: Yahoo! Finance News
) -- Wednesday brought another day of reversals in many major markets, with U.S. stock futures dropping, the dollar weakening and Treasury yields falling after surging a day earlier. Contracts on the S&P 500 Index fell more than 1.5% after the U.S. administration failed to offer details on what President Donald Trump said would be “major” measures to combat the economic impact of the coronavirus. The Stoxx Europe 600 climbed, with all 19 industry sectors in the green, after a nearly 5% rally on Wall Street Tuesday. Most Asian benchmarks fell, while the yen surged. Crude oil’s rebound from its biggest crash in a generation faltered after Saudi Arabia said it would boost production. The pound fluctuated and gilts declined after the Bank of England cut interest rates. The BOE’s emergency move came a week after the Federal Reserve slashed its main rate, and as European Central Bank President Christine Lagarde warned of an economic shock similar to the financial crisis unless leaders acts
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