US STOCKS-Futures hover at down trading limit after Europe travel shock

* Airlines, cruise liners tank on Europe travel ban
* Lack of public health measures in Trump's address spook
market
* Futures down: Dow 4.95%, S&P 4.5%, Nasdaq 4.75%

(Adds details, updates prices)
By Medha Singh
March 12 (Reuters) - U.S. stock index futures plunged on
Thursday to trade near their 5% down limits after President
Donald Trump ordered a halt in all travel from Europe, but
failed to convince markets he could contain the economic damage
from the coronavirus pandemic.
S&P 500 e-minis EScv1 fell 4.5% to 2,617 points, within
striking distance of a daily down limit at 2,601 after Trump
outlined steps to help small businesses, but made no mention of
widely expected payroll tax cuts. Shares of American Airlines AAL.O , Delta Air Lines DAL.N
and United Airlines UAL.O sank between 10.4% and 13.4% in
premarket trading. Cruise liners Carnival Corp CCL.N and Royal
Caribbean Cruises Ltd RCL.N tumbled more than 12%.
Investors were concerned about the absence of targeted
stimulus measures and the lack of details about the public
health response, such as the provision of extra testing kits or
subsidies for treatment.
"I am just left speechless for Trump to say this is the most
comprehensive plan," said Rob Carnell, chief economist
Asia-Pacific at ING in Singapore.
"We are not getting any co-ordinated action across
governments but we are also, in most cases, not getting
co-ordination between central banks and governments."
The longest bull run in U.S. history came to a shuddering
halt for the Dow Jones Industrials .DJI on Wednesday, after
the index fell more than 20% from its Feb. 12 closing high.
The S&P 500 .SPX and the Nasdaq .IXIC , which closed 19%
below their record close on Feb. 19, were set to join the Dow in
a bear market at the open on Thursday.
At 6:50 a.m. ET, Dow e-minis 1YMcv1 were down 1,166
points, or 4.95% and Nasdaq 100 e-minis NQcv1 were down 380
points, or 4.75%.
Markets will now keep an eye on the jobless claims report
for the week ended March 7 to gauge whether the outbreak is
impacting the labor market. The data is expected at 8:30 a.m.
ET.