Tourists wearing protective respiratory masks tour outside the Coliseum in downtown Rome.
Getty ImagesDow futures were slightly higher on Wednesday morning as Asian stock markets fell. European stocks were hovering near the break-even line.
Already down nearly 7% for the week, the Stoxx Europe 600 index is nearly flat at about 0.3%, amid reports of more coronavirus cases in Europe.
France reported three new infections on Wednesday and the death of a 60-year old man among them, according to the Associated Press. Spain also reported new cases linked to travel to northern Italy, where the number of infected reached 322 and deaths rose to 11.
Dow Jones Industrial Average futures were mixed early on Wednesday fluctuating between losses and gains, before edging higher ahead of the open. S&P 500 futures were up 0.3% and Nasdaq futures were up 0.5%, while crude oil prices fell 1.2% and gold prices fell.
Closing down nearly 880 points on Tuesday, the Dow suffered its worst-ever two-day point drop, losing 1,910 points in total. The S&P 500 fell 3% to 3128.44, while the Nasdaq finished nearly 2.8% lower.
Eleanor Creagh, Australian market strategist at Saxo Ban, said after four straight days of selling, “the door is open for some sort of bounce.
“It is important to remember that when volatility picks up larger trading ranges are driven by falling liquidity and the expansion in trading ranges is not only to the downside, but to the upside as well. So even falling markets witness fierce upside rallies,” she said in a note to clients.
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February 26, 2020 at 09:03PM
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The Dow Is Edging Up as Coronavirus Dominates Trading - Barron's
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