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US: Stocks suspended on deep losses, S&P 500 down 7.0%

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Trading on Wall Street was halted again on Wednesday due to rising fear about the economic hit from the coronavirus in spite of massive government stimulus announcements.

[NEW YORK] Trading on Wall Street was halted again on Wednesday due to rising fear about the economic hit from the coronavirus in spite of massive government stimulus announcements.

The 15-minute trading suspension was triggered by a seven-per cent drop in the S&P 500, which was at 2,351.90. The halt is automatic at these levels to limit volatility.

The Dow Jones Industrial Average was down 7.8 per cent at 19,576.75, sinking below where it was when US President Donald Trump was inaugurated, while the tech-rich Nasdaq Composite Index plunged 6.3 per cent to 6,872.41.

AFP