US STOCKS-Wall St sinks again as virus response falls short

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* Marriott, Darden fall after pulling 2020 outlook
* American Airlines secures more funding, shares fall again
* Accenture cuts outlook as services pain grows
* Futures down: Dow 2.66%, S&P 2.74%, Nasdaq 1.92%

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By Medha Singh
March 19 (Reuters) - The S&P 500 was on course to sink close
to three-year lows at open on Thursday, as another round of
sweeping emergency action from policymakers across the globe
failed to convince panic-stricken stock markets that a global
recession could be averted.
Investors again sold travel and leisure stocks furiously.
American Airlines secured another $1 billion in bank credit to
help its fight against the crisis, but still saw its shares fall
another 4% in response.
The airlines index .SPCOMAIR is down nearly 60% this
quarter as major cities around the globe enter a virtual
lockdown, emptying hotels and airports and forcing automakers to
shutter plants.
Hotel operator Marriott International Inc MAR.O and Darden
Restaurants DRI.N both dropped more than 10% in premarket
after pulling their 2020 financial outlook.
Moves on Wednesday by the Federal Reserve and European
Central Bank to pump hundreds of billions of additional euros
and dollars into the financial system gave markets an early lift
in Europe.
But the optimism was short lived as more companies flagged a
hit to business from the pandemic. "The fact that we have coordinated stimulus response by
governments, both monetary and fiscal policy is certainly seen
as a positive step," said Art Hogan, chief market strategist at
National Securities in New York.
"The problem is we need to see numbers actually peak before
we know that the healthcare response, is appropriate."
Wall Street's worst selloff since the 2008 sub-prime crisis
has continued to deepen this week and the Dow erased the last of
its gains under President Donald Trump's presidency on
Wednesday.
In corporate America, Accenture Plc ACN.N cut its
full-year revenue and earnings outlook, citing an impact from
the coronavirus outbreak.
Official data showed the number of Americans filing for
unemployment benefits surged to highest since 2017 last week in
the first indication of the outbreak's toll on employment.
Adding to worries, New York Stock Exchange-owner
Intercontinental Exchange Inc ICE.N said the market would
temporarily close its trading floors and move fully to
electronic trading starting next week. Wall Street's three main indexes are now down roughly 30%
from record closing highs last month.
At 8:20 a.m. ET, Dow e-minis 1YMcv1 were down 532 points,
or 2.66% and S&P 500 e-minis EScv1 were down 65.75 points, or
2.74%. The Nasdaq 100 e-minis NQcv1 were down 138.5 points, or
1.92%.