Stocks set to plummet as China rally fades
2018-10-23 07:14:33
Stock futures are pointing to a sharply lower open as U.S. markets are following global markets, which fell overnight. China's rally from yesterday proved to be short-lived, setting off a chain reaction around the world. With today's expected losses, the market is ready to test the lows it hit earlier in the month while the market is in the midst of its worst monthly performance since August 2015. Oil prices are also lower by 1.7% in early trading and now sitting just above $68 a barrel. In early pre-market trading, Dow futures are 256 points below fair value, Nasdaq futures are 100…
Stock futures are pointing to a sharply lower open as U.S. markets are following global markets, which fell overnight. China's rally from yesterday proved to be short-lived, setting off a chain reaction around the world. With today's expected losses, the market is ready to test the lows it hit earlier in the month while the market is in the midst of its worst monthly performance since August 2015. Oil prices are also lower by 1.7% in early trading and now sitting just above $68 a barrel. In early pre-market trading, Dow futures are 256 points below fair value, Nasdaq futures are 100 points below fair value and S&P futures are 33 points below fair value.