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

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 on the S&P 500 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)