NEW YORK - The major futures indexes are bouncing between gains and losses, searching for direction. Tuesday's rally on Wall Street suddenly vanished in a market dominated by sharp swings responding to the ups and downs of the news about the coronavirus pandemic. RELATED: CoronavirusNOW.com, FOX launches national hub for COVID-19 news and updates The S&P 500 dipped 0.2 percent to 2,659.41 after erasing a surge of 3.5 percent earlier in the day.
The market’s gains faded as the price of U.S. crude oil abruptly flipped from a gain to a steep loss of more than 9 percent.
The Dow Jones Industrial Average slipped 0.1 percent to 22,653.86, giving up an earlier gain of 937 points. The Nasdaq composite dropped 3 percent to 7,887.26.