Trading on the New York Stock Exchange was halted Monday after indexes plunged 7% in reaction to Saudi Arabia’s sudden oil-price cut. The financial market chaos is the latest reaction to the coronavirus epidemic.
In early trading, the Dow Jones Industrial Average was down more than 1,900 points — more than 19% off its February peak. Stocks fell sharply in Asia and Europe.
The price of oil was also fell — down 21% on Monday following the unexpected Saudi move.