Trading in US shares was suspended after oil price plunges and coronavirus fears lead to stocks plummeting in early trading, the BBC and others are reporting.
The Associated Press wrote on Twitter, "Trading temporarily halted on Wall Street as oil price plunge and coronavirus fears cause stocks to plummet in early trading."
The BBC reports that the main US stock exchange - the S&P 500 - had fallen 7% before it was suspended. Per the Guardian, the 7% plunge triggered automatic circuit breakers, which are designed to prevent a market meltdown.
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Trading was halted for 15 minutes before being reopened at 9:49AM ET.
This has lead to the day being dubbed 'Black Monday' by analysts, who are describing market reaction as "utter carnage".
Justin Urquhart-Stewart, co-founder of Seven Investment Management said: "It shows a level of nervousness in the market which I haven't seen in a long time".
Per the Associated Press, this was the first time trading on Wall Street had been halted since the 2016 presidential election.
