The US stock market is closed today in observance of Martin Luther King Jr. Day, but Dow futures pointed south after China’s growth fell to a nearly three-decade low. The cryptocurrency market, which never takes a breather, also remained bearish following Sunday’s pullback, leaving the bitcoin price uncomfortably close to the $3,500 mark.
As of 9:15 am ET, Dow Jones Industrial Average futures were down 96 points after flashing triple-digit losses earlier in the trading session, implying a decline of 87.35 points at Tuesday’s opening bell. S&P 500 and Nasdaq futures also pointed to Tuesday declines.
Last Friday, the three major US stock market indices had all risen by at least 1 percent, with the Dow pounding to a 336.25 point gain to close at 24,706.35.
On Monday, though, the futures markets hiccuped after China published data indicating that its economy had grown by 6.6 percent in 2018, its lowest rate in nearly three decades.