Wall Street collapsed in one day at $ 2 trillion due to coronavirus

Wall Street collapsed in one day at $ 2 trillion due to coronavirus

Wall Street fell nearly 10% on Monday, and S&P 500 companies lost more than $ 2 trillion in capitalization due to fears about the impact of the coronavirus pandemic on the global economy, Reuters writes.

Bidding was automatically stopped for 15 minutes immediately after the opening, this is the third time in the last six days. After the resumption of trading, the indices accelerated the fall.

The Dow Jones Industrial Average fell by 9.99% on March 16, the S & P 500 – by 9.77%, the Nasdaq Composite – by 9.68%.

Apple, Amazon.com, and Microsoft together lost nearly $ 300 billion in capitalization.

On Sunday, the Fed cut interest rates to almost zero, resumed buying bonds and took other measures out of its anti-crisis arsenal, connecting the world’s leading central banks to support the global economy, which is falling under the onslaught of the coronavirus.

Central banks in Japan, Australia and New Zealand also reported a sharp easing of monetary policy as a coordinated effort, not seen since the 2008 financial crisis.

It was also reported that industrial production in China in January-February fell for a maximum of 30 years, as coronavirus and tough measures to contain it led to significant disruptions in the world’s second largest economy.

MAG NEWS
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