Equity futures declined overnight even as the U.S. House passed a spending package that includes funding for President Trump’s campaign-promised border wall.
Continue Reading Below
The bill heads to the Senate where 60 votes are needed for passage, a grim feat with 49 Democrats strongly opposing funding for the wall.
Dow Jones futures were lower by 0.7 percent. The S&P 500 fell 0.7 percent and the Nasdaq Composite was down 0.9 percent.
On Friday, investors will get a check on U.S. economic growth with an update on third quarter GDP which was holding at 3.5 percent as of the last update.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 22859.6 | -464.06 | -1.99% |
| SP500 | S&P 500 | 2467.42 | -39.54 | -1.58% |
| I:COMP | NASDAQ COMPOSITE INDEX | 6528.4067 | -108.42 | -1.63% |
U.S. shares tumbled on Thursday with the Dow Jones Industrial Average falling nearly 500 points or about 2 percent and sliding below 23,000 for the first time in 14 months. Along with the blue-chip index, the tech-heavy Nasdaq Composite also plummeted, now flirting with bear market territory. The Nasdaq and the S&P 500 lost over 1 percent during the session. At the same time, volatility spiked to the highest level since February.
Advertisement
The selling accelerated after President Trump told House Republican leaders Thursday he will not sign a Senate-passed spending package that does not include sought-after border security funds, upending negotiations to avert a government shutdown by the end of the week as reported by Fox News.
More Business News
Japan’s Nikkei finished the session lower by 1.1 percent and down 5.6 percent for the week.
China’s Shanghai Composite ended the day down 0.8 percent and off 3 percent for the week.
In Hong Kong, the Hang Seng index dropped 0.2 percent.
In European trading, London’s FTSE opened up 0.2 percent, Germany’s DAX traded 0.3 percent lower and France’s CAC slipped 0.3 percent.
