March 9, 2020 / 3:48 AM / a month ago

CME Group says U.S. stock futures hit down limit, continue to trade

HONG KONG (Reuters) - Futures contracts on the U.S. stock market had hit their 5% overnight down limit but trading in the instruments continued, the CME Group said on Monday.

“Our U.S. equities futures markets hit 5 percent overnight limits and, as designed, continue to trade,” spokesperson for the financial derivatives exchange told Reuters.

The E-minis contract EScv1 on the S&P 500 .SPX hit its lower limit of 2,819 in Asian morning trade, signalling further falls in the main stock markets later on Monday as investors factor in growing risks of a U.S. recession and financial market stress caused by the coronavirus outbreak and plunging oil prices.

Editing by Kim Coghill

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