Dow Jones slumps 2,000 points after coronavirus shock, oil price crash

Dow Jones down 1,424.47 points, or 5.51%, at 24,440.31, while the S&P 500 was down 160.27 points, or 5.39%, at 2,812.10

Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.

Trading on US stock exchanges was halted immediately after opening, as the benchmark S&P 500 fell 7% to its lowest since June 2019, triggering an automatic 15-minute cutout put in place after the 2008-2009 financial crisis.

The energy index slumped 15.3% to its lowest level since August 2004 and crude prices were on track for their worst day in three decades as Saudi Arabia