What to Watch Thursday: Markets, NBA and the Coronavirus

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Here's what you need to know before the opening bell Thursday, March 12. 

Watch the full video above for more.

Video Transcript:

It’s Thursday, March 12.

This morning, we’re focusing on the markets, the NBA’s travel ban and the coronavirus.

First up, the markets.

The Dow closed down over 5.8%, and the S&P and the Nasdaq both closed down over 4.7% on Wednesday.

And then, in premarket trading, the Dow is pointing to an open which would plummet over 1,100 points, or 5%. The S&P 500 and the Nasdaq are also pointing to an open that would have both indices down over 4.5%. Futures, for the second time this week, hit the limit down rule.

In futures trading, limit down is triggered by falls of 5%. However, during regular trading hours, limit-down is triggered by a fall of 7% on the S&P 500. Trading will halt for 15 minutes.

We’ll be monitoring the markets closely and keep you up to date over on TheStreet.

And then we have the NBA.

The NBA has suspended the season indefinitely after a Utah Jazz player tested positive for the coronavirus.

The NBA has said--and I quote--that it” will use this hiatus to determine next steps moving forward in regards to the coronavirus pandemic.”

So now let’s give you a quick update on the coronavirus.

The virus has now infected over 124,000 cases worldwide, with over 4,600 deaths worldwide.

The U.S. has over 1,300 cases, with 38 deaths.

President Donald Trump said that he was halting all travel to the U.S. from Europe, with the exception of the U.K. The restrictions go into effect Friday at midnight.

Jim Cramer and I will be breaking down the latest live from CNBC’s headquarters at 10am. You can watch us live on TheStreet.com or find us on Facebook or Twitter @TheStreet.

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