Trading halted for 15 minutes amidst Global market crash

Trading in the US had been temporarily halted following a steep fall in stocks worldwide due to the fall in coronavirus and crude oil prices. Due to this, the trading in the US was stopped.

The US stock exchange fell seven per cent before the halt. This is the worst situation in the global market after 2008. The clash between Russia and Saudi Arabia over crude oil has already shaken the market already facing Coronavirus.

Experts have called Monday a ‘black Monday’ because of the sell off in the market. The top three indices in the US were held for 15 minutes and the stock market plunged by seven per cent during this period.

The market continued to decline even after opening of the business after 15 minutes. However, later the market stabilized somewhat. On Monday, crude oil prices were reduced by 30 percent in 29 years. This is the biggest drop in oil price since 1991.

Justin Urquhart Stewart, co-founder of Seven Investment Management, said it reflected market nervousness. “I have not seen this in a long time. Investors are selling their stocks at low prices because they do not know what Saudi Arabia and Russia will do later.”