Wall Street’s main indexes melted after markets opened Monday, with the Dow Jones Industrial Average (DJIA) falling by over 2,000 points, sparked by the worst one-day crash in crude oil prices in 30 years after an alliance between OPEC and Russia imploded, and Saudi Arabia announced it would cut crude prices and increase production.
A 7 percent plunge in the S&P 500 triggered an automatic 15-minute halt on trading at the New York Stock Exchange (NYSE), one of three circuit breakers designed to prevent a more serious market meltdown. The other NYSE trading curbs kick in at 13 percent and 20 percent.
