US stock trading halted as Dow, Nasdaq plunge over coronavirus fears

Trading at the Wall Street was halted for 15 minutes as US stocks nosedived amid the coronavirus scare.

The Dow Jones Industrial Average sank 7.3 per cent to 23,979.90, while the Nasdaq Composite Index fell 6.9 per cent to 7,987.44.

Watch Video:

In Brazil, Sao Paulo exchange suspended trading on Monday after stocks plunged more than 10 per cent amid the coronavirus scare.

Shares of Brazil's state-controlled oil giant Petrobras fell over 24 per cent after global oil prices fell more than 30 per cent.

In India too there was bloodbath at the markets with the Sensex plummeting over 1,942 points following global market plunge triggered by a rapidly-spreading coronavirus.

After sinking over 2,467 points during the day, the 30-share index settled 1,941.67 points or 5.17 per cent lower at 35,634.95.

Oil prices fell thirty per cent after Saudi Arabia signalled it would hike output to win market share sending shockwaves in world markets.

OPEC and Russia had earlier failed to reach an agreement over output cut due to the coronavirus outbreak.

Bourses across Asia had also fallen earlier in the day with Tokyo closing more than five per cent lower and Sydney down over seven per cent.