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3/12, 2:36 PM (Source: TeleTrader)
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Trading in US halted for 15 mins as S&P 500 drops 7%

Trading on Wall Street was halted just minutes after the opening bell on Thursday as the S&P frll over 7%. The move came as the United States moved to limit travel from the European Union and the European Central Bank kept interest rates unchanged but introduced a new asset purchase program to respond to the coronavirus.

According to its rules, the New York Stock Exchange introduces a halt in trading of 15 minutes if the S&P 500 drops 7%. In case the index falls 13%, trading will be suspended for another 15 minutes and in case the S&P 500 plummets 20% from the previous day's closing, there will be no trading for the rest of the day.

As trading was stopped at 9:39 am ET, the S&P 500 was down 7.02% and the Dow Jones Industrial Average fell 7.20%. The Nasdaq 100 lost 6.82% as Expedia Group led the losses, falling almost 15%. The euro fell 0.41% against the dollar to 1.12234 at 9:42 am ET.

Trading will resume at 9:54 am ET.

Breaking the News / VP