(Reuters) – U.S. stock markets looked set to cheer a strong showing for Joe Biden in the Super Tuesday Democratic primaries on Wednesday, with Dow and S&P index futures rebounding around 2% from heavy losses a day earlier.
A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., March 3, 2020. REUTERS/Andrew Kelly
The benchmark S&P 500 index .SPX had closed down 3% on Tuesday after an emergency interest rate cut by the Federal Reserve amplified fears over the extent of the economic damage from the coronavirus outbreak.
The index has now declined in eight of the past nine sessions, bringing Wall Street’s total losses to $3.1 trillion as the virus spreads deeper in the United States and Europe and cripples supply chains.
But at 7: 23 a.m. ET, Dow e-minis 1YMcv1 were up 700 points, or 2.7%, after Biden,