What to watch today: Wall Street headed for worst week since the 2008 financial crisis

What to watch today: Wall Street headed for worst week since the 2008 financial crisis  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE FRI, FEB 28, 2020 MORNING SQUAWK U.S. stock futures point to sharp decline for the Dow on Wall Street, pushing blue chips further into a correction. AS OF FRI, FEB 28, 2020 • 09:02 ET Dow Jones Fut 25,766.64 Current: 25,147.00 Change: -405.00 Impl. Open: -596.64 S&P 500 Fut 2,978.76 Current: 2,903.00 Change: -54.00 Impl. Open: -74.96 NASDAQ 100 Fut 8,436.67 Current: 8,226.50 Change: -156.25 Impl. Open: -214.17 Russell 2000 Mini 1,497.87 Current: 1,460.40 Change: -25.20 Impl. Open: -37.47 BY THE NUMBERS U.S. stock futures were pointing to sharp decline for the Dow on Wall Street, pushing blue chips further into a correction. However, Dow futures had been down 600 points earlier. Fears of a possible coronavirus pandemic crushed stocks this week, with the Dow tracking for its worst weekly performance since the 2008 financial crisis. (CNBC) * Live blog: What's moving the market right now (CNBC) * Barclays cuts S&P 500 2020 target, says it's 'too early to buy the dip' (CNBC) * Here's how long stock market corrections last and how bad they can get (CNBC) * Global stock markets have lost $6 trillion in value in six days (CNBC) Investors are dumping global stocks as well, with markets from Europe to Asia down 3% to 5%, and they're pouring money into the perceived safety of bonds. The 10-year U.S. Treasury yield, which moves inversely to price, hit another record low below 1.2%. (CNBC) The carnage in stocks and plummeting Treasury yields are raising market expectations of a Federal Reserve interest rate cut. Ex-Fed Governor Kevin Warsh told CNBC this morning he sees a coordinated global central bank action soon in response to coronavirus. (CNBC) Warsh denied accusations that he's angling to be the central bank's next chairman. Warsh caught the market's attention Thursday with his Wall Street Journal op-ed urging his former colleagues to cut interest rates in response to the coronavirus outbreak. (CNBC) The U.S. economic calendar this morning bought data on January personal income and spending and January core personal consumption expenditure, or PCE, inflation, the Fed's favorite gauge of prices pressures. February's Chicago PMI is out at 9:45 a.m. ET. The University of Michigan issues its final February reading on consumer sentiment. (CNBC) IN THE NEWS TODAY The World Health Organization today reiterated its warning that the coronavirus could reach every country on Earth. Infections continued to rise in hot spots outside of China. The U.S. has about 60 cases. The vast majority of infections and deaths are still in China, where officials increased cases to nearly 79,000 with fatalities approaching 2,800. (CNBC) * United Airlines slashes Asia service because of coronavirus (CNBC) Heading into Saturday's South Carolina primary, former Vice President Joe Biden was leading in the polls after poor results in Iowa, New Hampshire and Nevada. A pro-Biden super PAC invested in key Super Tuesday states. Biden is third so far in the delegate count, behind Vermont Sen. Bernie Sanders and ex-South Bend, Indiana Mayor Pete Buttigieg. (CNBC) * North Charleston Coliseum expects packed house for Trump's rally Friday night (WCSC-TV) The FCC is seeking hundreds of millions of dollars in fines from the country's leading mobile phone carriers, according to The Wall Street Journal. Officials found that the companies failed to safeguard information about customers' real-time locations, the Journal reported Friday. Cisco Systems (CSCO), one of the 30 components of the Dow, has reportedly started a new round of job cuts. The Wall Street Journal reported that the company faces the possibility of slower sales. Cisco did not give the Journal a number on the layoffs. Beyond Meat (BYND) reported quarterly revenue that topped expectations but disappointed investors by falling short of a second profitable quarter. Shares of Beyond Meat, which surged 40% year to date as of Thursday's close, were down 14% in Friday's premarket trading. (CNBC) STOCKS TO WATCH Dell (DELL) dipped in the premarket after the company missed earnings estimates for the fourth quarter. Dell narrowly beat forecasts on revenue. The company also announced a share buyback program of up to $1 billion over the next 24 months. AMC Entertainment (AMC) shares shot up in extended trading after the company announced a common stock repurchase of up to $200 million over the next three years. The company's senior officers are also taking pay cuts in exchange for shares. Bed Bath & Beyond saw its stock whipsaw in extended trading after the company announced that it is cutting around 500 jobs, or 10% of its corporate workforce. The cuts comes as part of a larger restructuring plan in an attempt to trim expenses. WATERCOOLER English former soccer superstar David Beckham said that "perseverance, stubbornness and just bloody-mindedness" kept him motivated to get his new team, Inter Miami, playing in Major League Soccer. Inter Miami faces Los Angeles FC on Sunday. (CNBC Make It) CONTRIBUTORS Matthew J. Belvedere @Matt_Belvedere Peter Schacknow @peterschack Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS