Dow Jones slumps 2,000 points after coronavirus shock, oil price crash


Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession. Trading on US stock exchanges was halted immediately after opening, as the benchmark S&P 500 fell 7% to its lowest since June 2019, triggering an automatic 15-minute cutout put in place after the 2008-2009 financial crisis.

The energy index slumped 15.3% to its lowest level since August 2004 and crude prices were on.

This article is no longer available in our repository.

There could be multiple reasons for this.