Stocks Sink on Virus Fears, Triggering Trading Halt
Date: 2020-03-12 14:21:06
The rout in global stocks deepened as investors showed a lack of faith in the U.S. and European policy responses to the worsening spread of the coronavirus. Treasuries and the dollar surged. #dowjones #dow #stockmarket
The S&P 500 Index plunged as much 8.5% before paring the drop somewhat, with trading settling into a range after an initial bout of selling triggered a 15-minute NYSE-mandated halt. Trading will stop again if losses reach 13% any time before 3:25 p.m. European stocks tumbled 10% in the biggest intraday rout on record. The 10-year Treasury yield slid below 0.7%.
President Donald Trump’s travel ban and tepid fiscal measures sparked the latest leg down in risk assets, while the European Central Bank failed to stem the rout after it left rates unchanged, though it temporarily increased its QE program and took steps to boost liquidity.
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