US stock futures slumped despite central bank monetary policy action to ease the pain on economies crumbling from blows dealt by the new coronavirus global pandemic that is raging across the world after emerging in China in December. Futures on the Dow Jones Industrial Average plunged by more than 1,000 points. European stock markets were hammered at the open after a sharp sell-off in Asia. South Korea’s central bank cut rates by 0.5 percentage point today. And on Friday, the Dow also marked a record gain of 1,985 points.

Source: The Standard March 16, 2020 09:02 UTC