Mayhem on Wall Street: Dow plunges 2,250 points amid coronavirus scare, oil price drop
The impact of coronavirus is being seen on the New York Stock Exchange as Dow plunged 2,250 points at the opening on Monday. The sharp fall has been on the back of growing fears of coronavirus and a drop in oil prices.
Trading at Wall Street was halted for 15 minutes after a sharp drop in indices after the opening bell. Even after the resumption of the trade, major indices like Dow and S&P 500 remained 10% lower.
Ron Sanchez, Chief Investment Officer (CIO) of Fiduciary Trust International, on Bloomberg TV said that the markets are volatile and virtually 'untradeable'.
Apple, Microsoft stocks are down 10% while investment banking bigshot Goldman Sachs is down over 11 per cent.
JPMorgan has seen a massive drop of over 16 per cent.
