UPDATE: Stocks reopen for trading after 15-minute trading halt; Dow down 8% as fears of economic damage from pandemic deepen.
NEW YORK (AP) – An early plunge of 7% on Wall Street triggered a trading halt as a sell-off slamming global markets continued.
The Dow Jones industrials dropped more than 1,600 points, or 7%, the S&P 500 fell a similar amount.
Trading resumes after 15 minutes.
The rout came after President Trump imposed a travel ban on most of Europe and offered few new measures to contain the economic impact of the coronavirus outbreak.
Benchmarks in Europe fell more than 7% even after the European Central Bank announced more stimulus measures.
World markets are enduring violent swings amid uncertainty about how badly the outbreak will hit the economy.
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