Plunging Wall Street stocks end record bull run

NEW YORK: Wall Street tanked on Thursday, slamming the book on the longest-ever U.S. bull market after new travel restrictions to curb the coronavirus spread spooked investors and rattled world markets.

A bear market is confirmed when an index sinks 20per cent or more below its most recent closing high. The U.S. Federal Reserve is expected to cut interest rates for the second time this month at the conclusion of its two-day monetary policy scheduled for next week.The New York Federal Reserve announced on Thursday that it would introduce US$1.5 trillion in new repo operations this week.

The CBOE Volatility index , a gauge of investor anxiety, shot up to levels not seen since November 2008, the height of the financial crisis.

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