U.S. stocks fell sharply once again on Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
The S&P 500 traded down 8.3% after trading paused due to a 15-minute “circuit breaker,” which temporarily halts trading at the New York Stock Exchange and Nasdaq. The broad index also joined the Dow Jones Industrial Average in bear market territory. The 30-stock Dow slid more than 2,100 points, or 9.2%. The Nasdaq Composite dropped 8.4%.
Before the open, futures contracts tied to the major indexes fell to their so-called limit down thresholds, sliding 5%. These limit down levels act as a as a floor for selling until regular trading begins.
Full article at: CNBC