Breaking: The S&P 500 sank more than 7%, triggering a circuit breaker for the third time in six sessions. Stocks trading is temporarily halted.
U.S. stocks plunged Monday even after the Federal Reserve slashed its benchmark interest rate to near zero as investors remained concerned that the emergency measures won’t suffice to ward off a recession caused by the coronavirus pandemic.
The Dow Jones Industrial Average slid 11%, shaving off 2,640 points. The S&P 500 dropped 11%, and the tech-heavy Nasdaq Composite lost 11%.
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