ANOTHER round of heavy losses amid the coronavirus pandemic led the stock market to shut down again this afternoon.
The Dow, S&P500 and Nasdaq all saw another morning of steep declines.
The S&P 500 extended its decline in early afternoon, as stocks fell by 7% and triggered a circuit breaker, which resulted in a 15-minute market-wide trading halt for stocks.
The S&P 500 was halted at 2,351.79, while Dow stands at 19,576.75, down by 7.8%.
The Nasdaq Composite is at 6,872.41, meaning it took a 6.3% dip.
The fall follows Monday's warning that a "global recession is inevitable" as worries of coronavirus caused global stocks to tumble.
Mohamed El-Erian, the chief economic adviser to Allianz, told CNBC: "We are going into a global recession. After what's been happening the last two days, we are going to see a spread of economic sudden stops."
He continued: "You've got to coordinate the restart (of the economy). The damage is going to last. That's why I believe we're going to get a global recession."
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