Donald Trump’s address to the nation Wednesday night didn’t calm fears on Wall Street. Instead, it sent stocks diving even lower. After the Dow Jones opened 1700 points down, trading was quickly halted.
Trading has been halted for 15 minutes at the @NYSE after the S&P 500 dropped 7%, triggering the level-one circuit breaker. https://t.co/NioQ19n0Ny pic.twitter.com/bLIpRm3HvN
— CNBC (@CNBC) March 12, 2020
After trading resumed the Dow’s point drop rose to 2100. CNBC adds:
On Wednesday, the Dow ended its historic 11-year bull market run by closing in bear-market territory. A bear market marks a 20% decline from all-time highs. The S&P 500 was just shy of that threshold going into Thursday’s trading and was poised to enter bear market territory based on futures losses.
It's another bruising day across markets https://t.co/SKsAE8F4uy pic.twitter.com/RMcaALBokX
— Bloomberg (@business) March 12, 2020
Watch more analysis from CNBC above.