Trading on the stock exchanges in New York halted on Monday after massive losses in a short time. Concerns about the coronavirus continue to dominate global markets.
A new, unexpected rate cut by the Federal Reserve has yet to turn the tide on Wall Street.
Shortly after opening, the wide S&P 500 dropped 8 percent, which automatically halted trading for 15 minutes.
It is the third time in a short time that Wall Street has collapsed so hard that the emergency mechanism is activated. That mechanism was instituted after the major stock market crash of 1987.
If the S&P falls 13 percent, another fifteen-minute break follows. With a drop of 20 percent, trading is suspended for the day.