Stock market live updates: Dow down 400, Fed goes all-in, waiting on Congress

Finance

A trader works on the floor of the New York Stock Exchange in New York, the United States, March 18, 2020.

Michael Nagle | Xinhua News Agency | Getty Images

7:10 am: Stocks set to fall, Dow futures down 500

Markets were set to decline at the open on Monday as investors wait on an economic stimulus and rescue plan from the U.S. government to combat damage from the coronavirus. A fiscal stimulus bill failed a key procedural Senate vote Sunday, sending equities downward. The Dow Jones Industrial Average futures dropped more than 500 points. S&P 500 futures were off by nearly 3%. Nasdaq 100 futures declined by 2.6%. Futures were well off their worst levels of the overnight session, where they hit their “limit down” levels, falling 5%.

Last week, stocks suffered their biggest one-week decline since the financial crisis in 2008, with the S&P 500 dropping more than 13%. Those losses put the broad market average more than 32% below its record set on Feb. 19. —Fitzgerald 

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