Title : U.S. And Global Stock Markets Crash (Again)
link : U.S. And Global Stock Markets Crash (Again)
U.S. And Global Stock Markets Crash (Again)
Daily Mail: Trading is halted at the opening bell after the Dow plummets by 2,250 points - 9% - wiping out ALL of Friday's gains - as Wall Street buckles under deepening coronavirus chaos despite frantic bailouts from the world's banks
* The Dow Jones Industrial Index fell again on Monday by a catastrophic 2,250
* The S&P 500 fell by eight percent which automatically halted all trading for 15 minutes
* It wipes out all of the historic gains made on Friday, when it clawed back nine percent
* Oil prices are now less than $30 a barrel thanks to a price war sparked by Saudi Arabia
* Last week, circuit breakers paused trades twice because prices fell so much
* The IMF has announced it is ready to mobilize $1 trillion to help ease the crisis
* The Federal Reserve Bank has slashed interest rates to zero and is buying $700billion of treasury bonds to try to alleviate the chaos
* There are now more than 4,000 cases of coronavirus in the US and 70 have die
Trading was immediately halted on Monday at the opening bell as the Dow plummeted by 2,250 points - nine percent - and the futures market tanked amid the deepening coronavirus crisis.
Trading began at 20,935 - a decrease of 9.71 percent - 2,250.46 points - since Friday's historic day of recovery on the Dow.
The S&P 500 fell by more than eight percent which kicked into gear what is known as a circuit breaker - a mechanism which acts like a kill switch to stop trading before prices can fall by too much.
Trading resumed 15 minutes after the first breaker and fell further.
The Dow fell further and by 10am, was down by 11 percent, as was the S&P 500.
The S&P 500 needs to fall by another 13 percent before trading is halted until 3.25pm. Then, it will then have to plummet by 20 percent to be halted for the rest of the day.
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WNU Editor: We are currently witnessing a version of a 1929 stock market crash. The consequences of this disaster are going to be long lasting and damaging to everyone.
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