Stock futures plunge as Trump holds stimulus bill

23.12.2020 - Kulakov Vladimir
Stock futures plunge as Trump holds stimulus bill

While Treasuries advanced, majority of financial markets were seen subdued as U.S. stock futures and commodities reached low grounds on Friday. The mixed performance came after Donald Trump threatened not to legislate a long-awaited stimulus bill.

S&P 500 e-minis plunged half a percent during their mid-day session in Asia. Meanwhile, European and British equity futures declined by the same margin as the news outweighed investors’ optimism brought by Brexit talks. Trump’s announcement on Twitter had sent ten-year Treasury futures up 2%, while the yield on U.S. 10-year government bonds ticked 1% lower.

Asian stocks, on the other hand, stabilized as MSCI’s broadest index of Asia-Pacific shares outside Japan recovered from three consecutive days of declines. Japan’s Nikkei also advanced, but its gains were mainly from the healthcare and technology sectors.

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