Stock futures drop 5% as investors await a stimulus agreement — Futures hit ‘limit down’

Tomorrow is gonna be fun:

U.S. stock futures plunged again on Sunday night as Wall Street waits on Washington to agree to an economic stimulus and rescue plan to combat the giant economic blow from the coronavirus outbreak.

Dow Jones Industrial Average futures fell more than 900 points, or 5%, to hit their “limit down” level. S&P 500 and Nasdaq-100 futures were also down around 5%. Downside limits to futures contracts are implemented to ensure orderly market behavior once trading hits a certain threshold. No trades below that level are allowed.

U.S. crude futures slid by more than 6%, adding to last week’s massive losses and adding to worries about more financial market pain on Monday.