Dow Dives More Than 2,000 Points; Steep Market Slide Triggered Trading Halt

Stock indexes tumbled so fast Monday that trading on the New York Stock Exchange was halted temporarily for the first time since October 1997. The Dow Jones Industrial Average lost 2,013 points as fears grew over the economic impact of the coronavirus epidemic. The blue chip index fell nearly 7.8% and the S&P 500 dropped 7.6%. It was the worst day for the market since 2008, during the financial crisis. The 15-minute trading halt — triggered automatically by a 7% drop in the S&P 500 — came shortly after the opening bell, when stocks tumbled in reaction to Saudi Arabia's shocking oil price cut. It was the first market-wide trading halt since the crash of Oct. 27, 1997, when the Dow fell 554 points, or 7.2%. With Monday's dive, the Dow and the S&P 500 are now down about 19% from their peaks in February. If the S&P 500 drops 20% from the recent peak, the stock market would be considered in bear market territory. The financial market chaos comes amid increasing worries that the coronavirus epidemic will plunge the global economy into recession. Stocks also fell sharply in Asia and Europe...MORE