Wall Street resumes trading after 7 per cent plunge triggers halt

The suspension was triggered after the S&P 500's losses hit seven percent, with trading resuming after 15 minutes.

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The Dow Jones Industrials index was set to fall more than 1,300 points at the open as crude oil logged its worst day in almost three decades after a price war between Saudi Arabia and Russia.

US stocks resumed trading after being halted as the benchmark S&P 500 index plunged 7 per cent and triggered an automatic 15-minute cutout shortly after the opening bell on Monday.

Wall Street’s main indexes dropped 7 per cent and the Dow Jones Industrials crashed 2,000 points in what would be its biggest one-day fall ever, as trading resumed on Monday following a 22 per cent slump in oil prices.

Saudi Arabia’s move to raise oil production significantly after OPEC’s supply cut agreement with Russia collapsed sent ripples across global financial markets already panicking about the impact of the coronavirus outbreak.

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Crude oil logged its worst day in almost three decades, sending oil majors Chevron Corp and Exxon Mobil Corp down more than 9 per cent. The energy index slumped 20.1 per cent.

At 9:54 a.m. ET, the Dow Jones Industrial Average was down 1,791.85 points, or 6.93 per cent, at 24,072.93 and the S&P 500 was down 195.93 points, or 6.59 per cent, at 2,776.44. The Nasdaq Composite was down 530.62 points, or 6.19%, at 8,045.00.

Police personnel seen to control the situation during a massive protest over the statehood demand and the inclusion of Ladakh under the Sixth Schedule, in Leh on Wednesday. (ANI Video Grab)

Statehood protest takes violent turn in Ladakh, BJP office set ablaze in Leh

India4 hr ago

Protests in Ladakh turned violent as students and youth organisations demanded statehood and Sixth Schedule status. Two elderly protesters fainted, prompting a shutdown call. A BJP office and security vehicle were set on fire. Activist Sonam Wangchuk urged for a peaceful approach. The demand for Sixth Schedule status is due to Ladakh's tribal-majority population and direct central administration.

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