US Exchanges Closed with Worst Fall in 30 Years Due to Chinese Coronavirus

US indices closed with the worst fall since 1987. Indices collapsed to 10% at the close of trading. Even the intervention of the Federal Reserve Bank in the amount of $ 1,5 trillion could not interrupt the fall, according to “Ведомости».

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According to the publication, the Dow Jones index fell by 2352,6 points, or 10%, to 21 points during the day. The S&P 200,62 index sank 500 points, or 260,74%, to 9,5 points. The Nasdaq Composite dropped 2480,64 points, or 750,25%, to 9,4.

On the subject: The collapse of the economy due to coronavirus: what you need to know

The situation at the auction was affected by a statement by US President Donald Trump. He imposed a temporary ban on the entry into the United States of representatives of EU countries because of the threat of the spread of coronavirus. Exchanges on March 12 opened with a fall of 7%, and trading suspended for 10 minutes. On mid-Thursday, March 12th, indices almost halved due to the Federal Reserve Bank of New York. After the close of trading, the Dow Jones Industrial Average dropped to 9,99%.

On the subject: The US has taken emergency economic measures because of the coronavirus: this has not happened since the 2008 crisis

The publication notes that the fall affected the companies most affected by the coronavirus response, led by airline and cruise lines. United Airlines Holdings was down 25%, Delta Air Lines was down 21%, Spirit Airlines was down 33% and Royal Caribbean Cruises was down 32%. All 11 sectors of the S&P 500 suffered, with the largest losses in the real estate and industrial sectors.

As reported by ForumDaily:

• U.S. President Donald Trump Announces Any US connection with Europe, including maritime and air travel, are closed for 30 days to contain the spread of coronavirus.
• The measures will take effect at midnight Friday, March 13th.
• According to the latest data, in the United States 1135 confirmed cases of coronavirus infection were registered, 38 patients died.
• A coronavirus outbreak has been identified in a suburb of New Rochelle north of New York. The military were sent there to help the locals. The National Guard, in particular, delivers products to citizens in self-isolation.

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