Breaking: Dow Plunges 2,250 Points, Trading Halted One Minute after Opening

Wall Street took another hit on Monday as the Dow Jones plunged 2,250 points, or 9 percent, while the S&P 500 fell 8 percent and the Nasdaq 6 percent.

Trading was halted one minute after the opening bell, following a week in which trading was stopped twice due to precipitous falls in the stock market.

The drop on Monday occurred after the Federal Reserve’s Sunday announcement that it would reduce interest rates to near-zero in an attempt to restore some stability to the markets, and amid exacerbated fears the U.S. economy is heading into a recession following the Wuhan coronavirus outbreak.

“If the public stops spending then the economy will go into a recession, and frankly, the market's steep losses are saying that day isn't just coming, it is now,” Chris Rupkey, chief financial economist at MUFG Union Bank, wrote on Monday in comments reported by the New York Times.

Dow Plunges 2,250 Points, Trading Halted One Minute after Opening Wall Street took another hit on Monday as the Dow Jones plunged 2,250 points, or 9 percent, while the S&P 500 fell ... READ MORE ADVERTISEMENT Follow Us & Share 19 West 44th Street, Suite 1701, New York, NY, 10036, USA Your Preferences | Unsubscribe | Privacy View this e-mail in your browser.