Traders await futures open after Fed cuts rates, launches easing program

Stock futures plunged Sunday night even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak. While the central bank s actions may help ease the functioning of markets, many investors said they would ultimately want to see coronavirus cases peaking and falling in the U.S. before it was safe to take on risk and buy equities again.

Stock market futures hit limit down levels of 5% lower, a move made by the CME futures exchange to reduce panic in markets. No prices can trade below that threshold, only at higher prices than that down 5% limit.

Dow Jones Industrial average futures were off by more than 1,000 points, triggering the limit down level.

via www.cnbc.com

Ooof.