U.S. Index Futures Sink After Trump Announces Europe Travel Ban

(Bloomberg) -- U.S. stock-index futures extended losses after President Donald Trump banned travel from the European Union for 30 days, threatening to exacerbate the economic fallout from the coronavirus outbreak that plunged the Dow Jones Industrial Average into a bear market.

Contracts on the S&P 500 Index that expire in March fell 2.7% as of 10:27 a.m. in Tokyo. The rout since a record three weeks ago exceeded 20%. Trump also authorized $50 billion for the Small Business Association to extend low-interest loans to companies in affected areas and asked Congress to deliver payroll-tax cuts aimed at boosting take-home pay for working Americans.

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