1. Dow set to plunge at open after Tuesday’s rebound
U.S. stock futures hit their 5% “limit down” levels, meaning they can’t trade any lower Wednesday. However, the exchange-traded funds that track the Dow Jones Industrial Average, S&P 500 and Nasdaq, which have no such curbs, were more than 5% lower. Another volatile night and early morning in the futures comes one day after Wall Street rebounded from its worst day in more than three decades on hopes around Trump administration plans to inject $1 trillion into the U.S. economy to cushion the fallout the coronavirus crisis.
As of Tuesday’s close, the Dow was off 28% from its Feb. 12 record high, with the S&P 500 and Nasdaq each down 25% from their Feb. 19 record highs. All three stock measures were firmly in bear markets as defined by declines of at least 20% from recent 52-week highs.
2. White House pushes $1 trillion coronavirus stimulus
Steven Mnuchin, U.S. Treasury secretary, right, speaks beside U.S. President Donald Trump during…