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Dow falls 8.7 percent as US stocks face another rout

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/reuters/03/12/20200312-usa-stocks-open-rtr.jpg"/><figcaption>A price monitor is seen at a post on the floor of the New York Stock Exchange (NYSE) as trading was halted in New York, US, March 12, 2020. Brendan McDermid, Reuters</figcaption></figure></div>NEW YORK - Wall Street stocks were deep in the red early Thursday, resuming after a 15-minute suspension as the economic pain from the coronavirus deepens and widens.About 25 minutes into trading, the Dow Jones Industrial Average was at 21,505.07, down more than 2,000 points or 8.7 percent.The broad-based S&amp;P 500 tumbled 8.1 percent to 2,519.43, while the tech-rich Nasdaq Composite Index shed 7.9 percent to 7,323.31.Trading was suspended after losses hit seven percent on the S&amp;P 500, a benchmark that triggers circuit breakers halting transactions to manage crises.Anxiety was elevated a day after the Dow entered a bear market as the spread of the virus further crimped economic activity. The NBA suspended its professional basketball season after a player tested positive, while Carnival announced that its Princess cruise line would suspend service for 60 days.The European Central Bank on Thursday followed other major central banks with a flurry of measures to cushion the impact of the coronavirus, including increased bond purchases and cheap loans to banks, but surprised observers by leaving key interest rates unchanged.Stock losses were widespread, but the impact on major airlines was especially acute after US President Donald Trump announced a 30-day travel ban on European travelers. Both Delta Air Lines and United Airlines tumbled more than 10 percent, adding to losses in a bruising period for the industry.

Wall Street stocks were deep in the red early Thursday, resuming after a 15-minute suspension as the economic pain from the coronavirus deepens and widens.

Wall Street stocks were deep in the red early Thursday, resuming after a 15-minute suspension as the economic pain from the coronavirus deepens and widens.