The Dow Jones Industrial Average dived by more than 2,000 points on Monday, marking its worst day since 2008 driven by the spread of the coronavirus and an oil price war sent investors scrambling for safety.
The S&P 500 sanked 7.6 percent. The massive sell-off led to a key market circuit breaker minutes after the opening bell. Trading was suspended for 15 minutes until reopening at 9:49 a.m. ET.
The sharp declines followed a roller-coaster week that saw the S&P 500 inched up or down more than 2.5 percent for four days straight. Monday’s fall is one of the 20 worst days for the S&P 500 on record.
Investors preferred to continue seeking safer assets amid additional fears that the coronavirus will disrupt global supply chains and drive the economy into a recession, CNBC reported.
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