Market Crashes At Open: Trading Halted As S&P Falls 7%
The inventory market crashed on opening and buying and selling was halted for 15 minutes because the S&P fell 7%, triggering circuit breakers.
The transfer got here after fears over the spreading coronavirus in the usand overseas. That sank worldwide markets in Asia and Europe with the Nikkei index in Japan down greater than 5% (is largest every day drop since 2016) and the Stoxx Europe 600 index – a Euro-area inex – down over 6%.
Oil costs collapsed over the weekend as main producers Saudi Arabia and Russia went to warfare over cuts in manufacturing.
The state of affairs appeared so severe that the U.S. Federal Reserve introduced a rise in short-term lending to cash markets to ensure there continues to be liquidity within the monetary system.
COPYRIGHT_BP: Published on https://bingepost.com/market-crashes-at-open-trading-halted-as-sp-falls-7/55670/ by Cecilia Jones on 2020-03-09T13:48:55.000Z