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 <a href="https://www.bbc.co.uk/news/business-51796806">reporting</a>. 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." [[twitterwidget||https://twitter.com/AP/status/1237010540196777984]] The BBC reports that the main US stock exchange - the  S&P 500 - had fallen 7% before it was suspended. Per the <a href="https://www.theguardian.com/business/live/2020/mar/09/markets-plunge-crash-financial-crisis-coronavirus-ftse-italy-oil-price-dow-business-live?page=with:block-5e6647208f087df56e4c5043#block-5e6647208f087df56e4c5043">Guardian</a>, the 7% plunge triggered automatic circuit breakers, which are designed to prevent a market meltdown. [[youtubewidget||https://www.youtube.com/watch?v=2jhfpfrV8Nw]] 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.

Trading on Wall Street was suspended as coronavirus impacts world markets

Top Stories

News

Adopted 'child' who turned out to be 22-year-old woman showed disturbing signs she was an adult

News

Influencer dies after live-streaming himself chugging bottles of alcohol

News

Keanu Reeves reunites with his band for first public performance in over 20 years

News

Phillip Schofield hits out at critics after admitting affair with much younger colleague

News

Man finally returns library book 96 years after it was due back

News

Man who opened plane door mid-flight says it was because he was 'uncomfortable'