Trading in Wall Street halted for second time this week over coronavirus scare
Wall Street
Trading in Wall Street was stopped for the second time this week after stocks plunged due to the coronavirus scare.
Also Read:Coronavirus: Death toll in Iran climbs to 429; Italy shuts stores
Trading was stopped after the Dow Jones Industrial Average plunged 7.2 per cent to 21,856.91 and the Nasdaq Composite Index tumbled 7.0 per cent to 7,393.25.
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The S&P 500 dropped 7.0 per cent to 2,549.05 leading to an automatic 15-minute suspension of trading in Wall Street.
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The Paris and Frankfurt stock exchanges also fell more than 10 per cent on Thursday afternoon. Paris CAC 40 went down 10.2 per cent while the German DAX 30 in Frankfurt had tumbled 10.3 per cent as the European Central Bank unveiled plans to boost Eurozone economy.
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European stock markets dived more than five per cent at the start of trading Thursday as the Dow sank into bear territory on Wednesday amid the coronavirus outbreak in the United States. The Dow Jones Industrial Average had plunged around 1,465 points, or 5.9 per cent, to 23,553.22 on Wednesday.
Meanwhile, oil prices fell more than 6 per cent on Thursday after Russia and OPEC failed to reach and deal compounded by US President Trump's announcement of restrictions on travel from Europe due to the coronavirus.
Brent crude was down $2.33, or 6.5 per cent, at $33.46 a barrel.