Press "Enter" to skip to content

Stocks briefly halted for trading after plunging 7%

U.S. stocks plunged Wednesday and were briefly halted for trading as coronavirus lockdowns and travel restrictions expanded, rattling investors despite Washington’s promises for economic aid.

The Dow Jones industrial average dropped more than 2,000 points, while the Standard & Poor’s 500 sank 8.9%, briefly triggering an automatic shock absorber for 15 minutes in afternoon trading. That marked the fourth time in eight trading sessions that circuit breakers were triggered. 

Wednesday’s losses put the S&P 500 on track to erase nearly all of its gains since President Donald Trump’s inauguration. The broad index had soared roughly 50% in that span when it hit records in mid-February.

Mortgage rates:A ‘traffic jam’ hits home refinancing as owners rush to take advantage of record-low rates

Auto loans:An economic slowdown could spell trouble for the rising number of people behind on car payments

Global markets have seen a wave of unprecedented volatility in recent weeks as investors grapple with border closures that have caused transportation chaos and imperiled economies. The border between Canada and the U.S. will close for non-essential travel, Trump confirmed in a tweet Wednesday. 

Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *