The Dow was set to rally back Friday after its sharpest selloff in three months.
Hong Kong/London/London/New York (CNN Business)The Dow was set to rally back Friday after its sharpest selloff in three months.
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US stocks were hammered on Thursday as fears about an increase in coronavirus cases and a somber economic outlook from the US Federal Reserve forced investors to confront risks that had been pushed aside during the huge market rally that has taken place since March.
But fear of missing out is a powerful motivator to buy stocks, and the US market was set for a rebound.
Dow futures were last up more than 400 points, or 1.7%, while futures for the S&P 500 climbed 1.5%. Nasdaq Composite futures were up 1.2%.
All three indexes recorded their worst day since March 16, the height of the coronavirus selloff, on Thursday. For the Nasdaq, the drastic collapse came after three straight days of all-time closing highs.
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Global stocks were mixed Friday after fears of a sharp increase in coronavirus cases.
