Trading halts as Dow Jones plunges a shocking 1558 points

Trading halts as Dow Jones plunges a shocking 1558 points
Image via Shutterstock.

The stock market suffered a major plunge on Monday morning.

Trading temporarily halted on Wall Street, and the Dow Jones Industrial Average fell by a stunning 1568 points, according to NBC News. The S&P 500, meanwhile, fell by 6.6% in Monday morning trading.

The sell-off, in fact, was so great that it trigged a circuit breaker only a few minutes after the opening bell on Wall Street. Trading was halted for 15 minutes but reopened at 9:49 a.m. EST.

Investors fear that as the coronavirus crisis continues to worsen, it could trigger a worldwide recession. And coronavirus is affecting the oil market: with the epidemic affecting the demand for oil, Saudi Arabia has reduced official crude prices for April.

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