Trading halts as Dow Jones plunges a shocking 1558 points
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.
U.S. stocks plunge at the open https://t.co/2JarXSDy5b https://t.co/xVtFsqolGs— Bloomberg Markets (@Bloomberg Markets)1583760633.0