Wall Street Trading Halted As Dow Jones Down Almost 10 percent
Financial markets have been in turmoil on the backdrop of fears prompted by the coronavirus outbreak. In late February, the Dow Jones Industrial Average experienced its worst drop, followed by several other plunges in the next weeks.
Trading in US stocks was automatically halted for a mandatory 15 minutes on Monday after the Dow Jones Industrial Average and Nasdaq Composite indexes tumbled on their open over fears of a looming recession.
The Dow, the broadest equities gauge on the New York Stock Exchange, lost 2,250 points, or almost 10 percent, to halt trading at 20,935. The tech-heavy Nasdaq slumped 6.1 percent to 7,393. The S&P500, barometer for the top 500 US stocks, remained suspended at Friday’s level of 2,711.
In a parallel development, the price for Brent oil has fallen below $30 per barrel for the first time since February 2016 amid the global market turmoil, with oil prices falling by up to 12 percent , according to exchange data.