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Photo by Spencer Platt/Getty Images

U.S. stock futures fell sharply on Sunday evening, with the Dow Jones Industrial Average hitting its 5% "limit down" just four minutes after opening.

The big picture: It's rarely possible to pinpoint the reason for giant stock swings, but it cannot help that President Trump did not announce any agreement or new information on an economic stimulus plan.

Go deeper

1 hour ago - Health

Beware a Thanksgiving mirage

Illustration: Sarah Grillo/Axios

Don't be surprised if COVID metrics plunge over the next few days, only to spike next week.

Why it matters: The COVID Tracking Project warns of a "double-weekend pattern" on Thanksgiving — where the usual weekend backlog of data is tacked on to a holiday.

Trump pardons Michael Flynn

President Trump with Michael Flynn in 2016. Photo: David Hume Kennerly/Getty Images

President Trump on Wednesday pardoned his former national security adviser Michael Flynn, who pleaded guilty in the Mueller investigation to lying to FBI agents about his conversations with a former Russian ambassador.

Why it matters: It is the first of multiple pardons expected in the coming weeks, as Axios scooped Tuesday night.