US stock futures edge lower after S&P 500 hits record high; PCE data in focus
March 18 (Reuters) - The S&P 500 index tumbled 7% on
Wednesday, triggering a 15-minute trading halt of Wall Street's
main indexes for the second time this week, on fears that
stimulus measures may not be enough to avert a
coronavirus-driven recession.
Wall Street had bounced in the previous session after the
Trump administration pressed for a $1 trillion stimulus package
and the Federal Reserve relaunched a plan to buy short-term
corporate debt, but the optimism was short-lived with many
companies warning of big business impact.
At 12:56 p.m. ET the Dow Jones Industrial Average .DJI was
down 1,660.63 points, or 7.82%, at 19,576.75, the S&P 500 .SPX
was down 177.29 points, or 7.01%, at 2,351.90 and the Nasdaq
Composite .IXIC was down 462.37 points, or 6.30%, at 6,872.41.
If the S&P 500 falls 13% when trading resumes, it will
trigger a level-2 circuit breaker and halt trading again for 15
minutes.