Stock trading resumed after a nosedive of 7% in the benchmark S&P 500 forced so-called circuit breakers to temporarily halt stock trading
- Wall Street’s main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 20% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.tumbled 7% to its lowest since June 2019, triggering an automatic 15-minute cutout originally put in place to avoid a repeat of the"Black Monday" crash in 1987, when the Dow slumped nearly 23%.
“The lower it does go, the more people are likely to panic even further,” said Rick Meckler, a partner at Cherry Lane Investments in New Vernon, New Jersey. Companies listed on the S&P 500 have now lost more than $5 trillion in value in a sell-off sparked by fears that the coronavirus epidemic could end the longest U.S. economic expansion on record.
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