NYSE Suspended Trading After Stocks Tank: Trump Clueless?
An automatic circuit tripper was triggered this morning when the NYSE opened due to the worst drop in the Dow Jones average since the financial crisis of October, 2008 (and before that, 9/11):
The Dow Jones Industrial Average tanked 1,247 points — 4.8% — on pace for its worst day since December 2008, while the S&P 500 plunged 4.9%. 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%.
This is the first time the trigger was activated since 1997.
As for why the Dow freaked out, it's fears over the oil trade deal and the coronavirus.[More...]