Rolling coverage of the latest economic and financial news, as stocks slump across the world amid the deepening coronavirus crisisLatest: Wall Street trading suspended after 7% plungeSummary: What’s going on?!Britain’s FTSE 100 has plunged this morningFootsie in bear marketOil giants hammered as crude falls 30%Introduction: Economists fear a global recession 1.54pm GMT Trading has resumed on Wall Street… and stocks are continuing to slide.The S&P 500 index is now down 7.3% today (an eye-watering plunge), as the automatic trading halt ends. 1.47pm GMT Meanwhile in London, stocks are sliding deeper into the red… as my colleague Kalyeena Makortoff reports:“This is a meltdown, this is an absolute meltdown,” says Michael Baker, who is leading the sales team at spread-betting firm ETX Capital. Traders are hollering across banks of desks, yelling out trades. They’re trying to figure out which stocks are trading in the US after the S&P 500 was briefly halted following its 7% fall a moment ago. Continue reading…
Via: Wall Street plunges 7% amid fears of global recession triggered by coronavirus – business live
Categories: English News