US stock market futures shook off early losses and shot higher late Monday, following Wall Street’s worst selloff since 2008. Dow Jones Industrial Average futures were last up around 600 points, or 2.7 percent, while S&P 500 futures and Nasdaq-100 futures were each up more than 2.5 percent, Marketwatch reports. Futures started rallying late Monday after President Donald Trump said in a White House news conference that he would seek payroll tax relief and other measures to help businesses amid the coronavirus outbreak. Trump said he would announce more details Tuesday, and discuss “a possible payroll tax cut or relief, substantial relief, very substantial relief, that’s big, that’s a big number,” the Associated Press reported. “We’re also going to be talking about hourly wage earners getting help so that they can be in a position where they’re not going to ever miss a paycheck.”

Source: The Standard March 10, 2020 02:37 UTC