The benchmark S&P 500 plummeted as much as 8% on Monday, its biggest intraday drop since 2010, before closing 7.6% lower. The index’s sharp losses at the open prompted the first market-wide trading halt since the depths of the financial crisis in December 2008.
The Dow Jones industrial average declined 2,014 points, or 7.8%, its biggest single-day loss since October 2008.
The losses came as an oil-price war and the escalating coronavirus outbreak hammered risk assets from all sides. Equities initially gained after the halt before resuming their downward spiral.
aloha27