Dow plummets more than 1,600 points, S&P 500 sinks 6% amid oil price war
Stocks cratered Monday as investors grappled with the sinking price of oil and the spread of the coronavirus.
The Dow Jones Industrial Average tanked 1,665 points — 6.4% — on pace for its worst day since December 2008, while the S&P 500 plunged 6.1%. The massive sell-off triggered a key market circuit breaker minutes after the opening bell. Trading was halted for 15 minutes until reopening at 9:49 a.m. ET. At one point in morning trading, the 30-stock Dow dropped 2,046 points and the S&P 500 cratered 7.4%.
The sharp declines followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight. While Monday’s drop was significant, it still didn’t crack the 20 worst days for the S&P 500.
Investors continued to seek safer assets amid additional fears that the coronavirus will disrupt global supply chains and …continued .
[Source: CNBC News]