By Jill Goldsmith The stock market crashed on opening and trading was halted for 15 minutes as the S&P fell 7%, triggering circuit breakers.
The move came after fears over the spreading coronavirus in the U.S and abroad. That sank international markets in Asia and Europe with the Nikkei index in Japan down more than 5% (is biggest daily drop since 2016) and the Stoxx Europe 600 index – a Euro-area index – down over 6%.
Oil prices collapsed over the weekend as major producers Saudi Arabia and Russia went into a price war over cuts in production, that further exacerbated tensions and uncertainties among investors.
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