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

Investors are pinning their hopes on a US$2 trillion economic rescue package, negotiations over which appeared to have made progress late on Monday. 

Uday Sampath Kumar (Reuters)
Bengaluru, India
Tue, March 24, 2020 Published on Mar. 24, 2020 Published on 2020-03-24T17:42:20+07:00

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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. 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​ on Monday.

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