1. Dow set to drop as Wall Street awaits stimulus action in Washington
A pedestrian passes by the New York Stock Exchange ,NYSE, in New York, the United States, March 17, 2020.
Michael Nagle | Xinhua News Agency | Getty Images
U.S. stock futures were pointing to a 500-point loss for the Dow Jones Industrial Average at Monday’s open on Wall Street. Futures hit their 5% “limit down” overnight as a massive coronavirus funding package failed a key Senate procedural vote Sunday. The Dow tanked another 900 points or 4.5% on Friday, bringing the weekly decline to over 17% for the worst week since the 2008 financial crisis. Ahead of Monday’s session, the Dow was off more than 35% from last month’s record highs. The New York Stock Exchange’s trading floor will be close starting Monday. The NYSE will go to fully electronic trading. The 10-year Treasury yield, which popped back above 1% last week, was below that level early Monday.