Dow Futures Drop, Signal Another Weak Trading Session As Coronavirus Fears Spread
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Wall Street is about to start another rough week.
Dow Jones Industrial Average futures fell more than 300 points when trading opened Sunday evening, while S&P 500 futures fell about 1.3%.
The weak open comes amid continuing fears related to the coronavirus and its widespread health and economic impact. The Dow has closed in the red for seven straight sessions. It was the worst weekly drop in terms of percentage since the 2008 financial crisis.
More than 85,000 coronavirus cases have been confirmed around the world along with more than 2,900 virus-related deaths. China reported more than 500 new cases on Saturday.
TD Ameritrade Manager Of Trader Strategy Shawn Cruz said investors should prepare for more bad headlines, but the best thing for most investors to do right now is nothing.
"The play right now here is to not do anything," Cruz said Friday. "Selling when the markets are already down this much certainly won't do you any favors. If you're a long-term investor, the thing you should do now is ride this out.
"The last thing you should try to do is trade this market. If you're not an experienced trader, this is not where you should come in and try to get fancy with things."
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