By Geoffrey Smith
Investing.com — U.S. stock futures are set to open lower again on Friday, with no imminent sign of a turnaround after their biggest-ever daily points drop on Thursday – even though the pace of selling appeared to be slowing.
In currency markets, the dollar weakened against the euro amid reports of European investors bailing out of U.S. stock markets. It was at $1.1007, up 0.1%, after hitting a three-week high of $1.1047 earlier. The greenback also weakened further against havens such as the yen and Swiss franc. USD/JPY was down 0.8% at 108.69, while USD/CHF was down 0.1% at 0.9664, a three-week low.
The moves followed further anecdotal reports of the Covid-19 virus spreading across the world. The number of confirmed cases in South Korea and Iran jumped again, while Germany and Switzerland took emergency measures to stop the disease’s spread. Sub-Saharan Africa also registered its first case with a patient in Nigeria.
U.S. crude futures initially shed another 3%, falling as low as $44.97 a barrel, their lowest since the end of 2018.
Brent crude futures dipped below $50 a barrel before rebounding to $50.72, down 2.0%. WTI was down 2.7% at $45.79.
Gold futures, however, gave up some of their recent gains to trade 0.8% lower at $1,630.35 a troy ounce.
Stocks: U.S. Futures Set to Open Down Around 1% as Virus Spreads
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