Trading briefly halted on Wall Street after oil price slump
Stocks plunged 7% on Wall Street on Monday, triggering a trading halt for 15 minutes.
The steep drop in New York followed similar falls in Europe after a fight among major crude-producing countries jolted investors already on edge about the widening fallout from the outbreak of the new Covid-19.
Indexes in London and Frankfurt dropped by more than 7%.
The benchmark for Italy, where the industrial and financial heartland was put in lockdown, fell 11%.
Oil prices are down about 20%, deepening a rout that began when Saudi Arabia, Russia and other producers failed to agree on cutting output.
Bond yields sank to new lows.
Securities Exchange dropped by more than 7%.