U.S. Stock Futures Drop as Hurricane Stikes East Coast
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U.S. stock-index futures pointed to a lower opening for the Standard & Poor’s 500 Index for a second day as Hurricane Sandy, the Atlantic Ocean’s biggest-ever tropical storm, slammed into the East Coast.
Trading of futures resumed after a halt at 9:15 a.m. yesterday New York time. The U.S. securities industry canceled equity trading on all markets yesterday, moving to protect workers, as the 900-mile wide storm caused flooding from the beaches of Maryland to the narrow streets of New York’s Financial District.