Wall Street Plunged So Fast They Suspended Trading

Dow falls more than 1,700 points
By Newser Editors,  Newser Staff
Posted Mar 12, 2020 8:37 AM CDT
Updated Mar 12, 2020 8:47 AM CDT
Wall Street Off to Another Brutal Day
Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Tuesday, March 10, 2020.   (AP Photo/Richard Drew)

(Newser) – The market is cratering at the open, and it happened so fast that trading was suspended for the second time this week. The Dow fell more than 1,700 points, about 7%, after another string of worrying coronavirus developments. The benchmark S&P fell 7% as well, and that triggered a 15-minute "circuit breaker" pause in trading, reports CNBC. The plunges come after the Dow slipped into a bear market Wednesday after 11 years of a bull run. On Thursday, the S&P also entered a bear market.

Meanwhile, the New York Stock Exchange is exploring the unprecedented step of closing its trading floor and switching to electronic backup systems, reports the Wall Street Journal. The move comes amid a push to discourage large gatherings of any kind as a way to curb the spread of the disease. (Read more stock market stories.)

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