For the third time in a week, the stock market has temporarily halted trading after the Dow Jones Industrial Average plummeted shortly after the opening bell.
The Dow on Monday set off circuit breaker protocols less than two minutes after the opening as stocks plunged by 2,250 points, or nearly 10 percent of the market’s total value.
The market’s latest plunge came after the Federal Reserve on Sunday issued a full one-point rate cut in an effort to stem off economic damage being inflicted by the coronavirus pandemic.
Markets rose on Friday after President Donald Trump gathered with several top business leaders in the White House Rose Garden to tout their work in trying to slow the spread of the coronavirus, and Trump even boasted afterward that he had created the “BIGGEST STOCK MARKET RISE IN HISTORY.”
That triumph was short-lived, however, as markets proceeded to crash yet again just three days later.