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Stock trading is halted again as S&P 500 index drops 7%

Michael Gallucci

(AP Photo/Richard Drew)

NEW YORK (AP) — Stock trading has been halted for the fourth time this month Wednesday as S&P 500 drops 7%.

The automatic circuit-breaker was triggered around 1 p.m. Eastern time as President Donald Trump and other officials were updating reporters on measures to combat the coronavirus. Markets have been highly volatile in recent weeks as the outbreak seems increasingly likely to cause a global recession.

The price of crude oil dropped another 18% as traders anticipate a sharp pullback in demand for energy. Even prices for longer-term U.S. Treasurys fell as investors sold what they could to raise cash.

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