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S&P futures hit upper trading limit after another brutal session

  • Uday Sampath Kumar

    Reuters

Bengaluru, India   /   Tue, March 24, 2020   /   05:42 pm
S&P futures hit upper trading limit after another brutal session A pedestrian walks on Wall St., as concerns about coronavirus disease (COVID-19) keep more people at home, in front of the New York Stock Exchange (NYSE) in New York, US, March 18, 2020. (REUTERS/Lucas Jackson )

S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.

Investors are pinning their hopes on a US$2 trillion economic rescue package, negotiations over which appeared to have made progress late on Monday. The bill could be voted on as soon as Tuesday.

At 05:47 a.m. ET, S&P 500 e-minis rose 5.09 percent to its upper trading limit of 2,333.5 points. Dow e-minis were up 930 points, or 5.03 percent and Nasdaq 100 e-minis were up 375 points, or 5.37 percent.

SPDR S&P 500 ETFs were up 4.96 percent.

The S&P 500 index closed down 2.93 percent at 2,237.4‚Äč on Monday.