( Reuters) – U.S. stock index futures fell more than 2%on Wednesday after strong gains in the previous session, on uncertainty about President Donald Trump’s stimulus plan to combat the economic effect of the coronavirus epidemic.
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, New York City, U.S., March 10,2020 REUTERS/Andrew Kelly
Expectations that Trump would reveal “significant” stimulus steps helped Wall Street rebound on Tuesday from a bruising sell-off on Monday as a plunge in oil costs compounded fears of an international recession.
While Trump met fellow Republicans in the U.S. Senate on Tuesday and talked about a payroll tax cut, no concrete procedures have been revealed.
The fast spread of the virus has galvanized central banks and governments to roll out measures to cushion its fallout. The Bank of England on Wednesday became the current central bank to cut int