Futures are recovering. Is it this just a correction or a start of a new rally?

Stock futures bounced a bit on Monday evening following the market’s worst decline in two years on coronavirus fears.

The slight gains came even as United Airlines and Mastercard warned about the potential impact the coronavirus will have on 2020 results after the bell.

Investors fled the stock market rapidly in Monday’s session as a surge in coronavirus cases outside of China intensified fears of a prolonged global economic slowdown. The Dow sank more than 1,000 points, suffering its biggest point and percentage drop since Feb. 2018. The S&P 500 plunged 3.3%, also the worst drop in two years. With Monday’s declines, the S&P 500 and the Dow both wiped out all of their 2020 gains.

Traders are now waiting on coronavirus infection numbers from China, South Korea and Italy overnight to dictate trading.

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