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US stocks continue slide after another trading halt as market reacts to rate cut

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US stocks continue steep slide after another trading halt as market reacts to rate cut

Stocks lost more than 6 per cent on Wall Street on Monday as huge swaths of the US economy come closer to shutting down due to the coronavirus outbreak, from airlines to restaurants.Trading was halted within minutes after the open, but the S&P 500's losses deepened after trading resumed

Emergency actions taken by the Federal Reserve late on Sunday to prop up the economy and get financial markets running smoothly again may have raised fears even further, some investors said. To many investors, that meets the definition of a recession, and the question is how long it will last.

 

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