NEW YORK (AP) — Stocks are down 9% after trading resumed on Wall Street Monday following a temporary halt Monday morning.
Markets are down by similar percentages around the world as huge swaths of the economy come closer to shutting down due to the coronavirus outbreak, from airlines to restaurants.
Emergency actions taken by the Federal Reserve late Sunday to prop up the economy and get financial markets running smoothly again may have raised fears even further, some investors said.
The Fed on Sunday cut its key interest rate to near zero. The price of crude oil also dropped about 10%. Bond prices soared as investors sought safety.
(By the Associated Press.)
