New York Stock Exchange stops all trading as market plunges 9.7 %

New York Stock Exchange halts tradings for 15 minutes after the Dow Jones fell 9.7 per cent – more than 2,250 points – and the S&P dropped 8 per cent on opening on Monday morning.

The plunge comes a day after the Federal Reserve cut interest rates to zero in an effort to stabilise the markets following weeks of instability.

In a statement on Sunday, the US central bank said: “The coronavirus outbreak has harmed communities and disrupted economic activity in many countries … The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses.”