Dow dives more than 2,000 points after trading halted
Stock trading was halted in early trading after shares plunged. It’s the second pause in trading this week amid growing fears about the economic impact of the coronavirus pandemic.
The S&P 500 plunged 222 points, or 8.1%, to 2,519.49 when trading opened on Thursday, triggering a trading halt. The S&P 500 has three “circuit breakers” that kick in when stocks decline by 7%, 13% or 20% in a single trading session. It’s the second trading halt this week, following a rout on.
When trading resumed, the S&P 500 and Nasdaq both fell nearly 8%, while the Dow sank 2,057 points, or 8.7%, to 21,495. Stocks pared their losses in afternoon trading after the Federal Reserve Bank of New York moved to provide more funding to lenders.
[Source: CBS News]