Stocks sink at open, triggering another 15-minute halt in trading amid virus concerns
The world’s brightest spot may have been Japan, where the central bank announced more stimulus for the economy, and stocks still lost 2.5%. The spreading coronavirus is causing businesses around the world to shut their doors, which is draining away revenue. The S&P 500 fell more than 8% within the first few minutes of trading, enough to trigger a 15-minute halt to trading. Many investors expect markets to remain volatile until the number of new infections stops accelerating. They’re hopeful that big spending programs from the U.S. government can help carry the economy in the meanwhile.