Stock futures slipped Friday morning, giving back some gains after Thursday’s session saw each of the S&P 500 and Dow climb more than 6%.
Losses in contracts on the three major indices Friday tracked declines in European equities, after EU member countries failed to agree on a concrete plan to address the coronavirus outbreak in the region.
Countries including Italy, Spain and France – those hit hardest by the outbreak – had called for the joint issuance of so-called “coronabonds” to help raise funds through issuance of shared European debt, but other member countries struck down the relief move during last night’s discussions. An announcement that UK Prime Minister Boris Johnson tested positive for COVID-19 also weighed on risk assets.
During the regular session Thursday, stocks ended higher for a third straight day as investors hoped a $2 trillion relief package passed by the U.S. Senate would help offset some of the domestic economic damage dealt by the coronavirus…