US Stocks Plunge in Volatile Markets as Oil Price War Heats Up

Dow Jones falls 953 points, bonds yields under pressure in sign of flight to safe havens

A trader works on the floor of the New York Stock Exchange in New York City on March 10, 2020. Andrew Kelly/Reuters

U.S. stocks plunged after trading floors opened on March 11, as the wild coronavirus-driven market swings of recent weeks were inflamed by an oil price war that was heating up.

The Dow Jones Industrial Average (DJI) fell by 953 points, or 3.81 percent, by 10:32 ET on March 11. In a display of the kind of extreme market volatility that has roiled markets in recent weeks, the blue-chip index saw its worst-ever single-day drop of over 2,000 points on Monday, before soaring on Tuesday to close up by 1,167 points.