U.S. stock trading halted after deep losses

U.S. stocks plunged in early trading on Monday as investors fled the market amid anxieties for a possible all-out oil price war and economic slowdown from the spreading coronavirus.

All the three major indexes tumbled more than 7 percent a few minutes after the market open.

The massive sell-off triggered a key market circuit breaker, and trading was halted for 15 minutes.

Equities pared some losses after trading resumed. The Dow cratered more than 1,600 points, or more than 6 percent at one time, when the S&P 500 dropped 6.24 percent and the Nasdaq declined 5.88 percent.

Investors continued to seek safer assets.

The yield on the benchmark 10-year Treasury note dropped below 0.5 percent, hitting a record low. Yields move inversely to prices.

The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, spiked over 39 percent to over 58.

Source: Xinhua