Dow Futures Collapse as Coronavirus Outbreak Infects U.S. Military

  • Dow Jones Industrial Average (DJIA) futures point to a third-straight day of losses on the stock market.
  • The first US soldier tested positive for the coronavirus in South Korea overnight.
  • San Francisco declares a state of emergency as America prepares for pandemic.

The U.S. stock market looks set for another disastrous start. After the worst back-to-back losses since 2008, Dow Jones Industrial Average (DJIA) futures slipped yet further on Wednesday morning.

The move down comes as the first U.S. soldier tested positive for the coronavirus in South Korea.

The patient, a 23-year old male, is currently in self quarantine at his off-base residence … Health professionals are actively conducting contact tracing to determine whether any others may have been exposed – Official statement.

Four U.S. military bases in South Korea are now taking emergency measures to protect the 28,500 American soldiers in the region.

Dow futures fall 230 points

Dow futures contracts plunged a further 230 points in early trading Wednesday, despite a short-lived bounce overnight. The stock market looks set to continue the ugliest selloff since 2008 which saw $1.7 trillion wiped off U.S. equities.

Dow Jones Industrial Average (DJIA) futures point to a third-straight decline for U.S. stocks. Source: Yahoo Finance

S&P 500 futures and Nasdaq Composite futures were down 0.57% and 0.73% respectively.

Coronavirus hits U.S. military

The 23-year old soldier was stationed at Camp Carroll near Daegu – the centre of South Korea’s COVID-19 outbreak. According to the official statement, he had also visited Camp Walker on 24 February.

Col. Edward Ballanco, commander of the U.S. Army Garrison in Daegu, said the soldier would receive the best treatment.

We are very well equipped to fight this thing off. I am certain that, that soldier that has tested positive, he’s on his way up to Camp Humphreys today, is going to get better medical care than anyone else in Korea who has the coronavirus.

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