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Market crash 20009/18/2023 But stocks never dipped low enough to trigger another pause. It was the second time the so-called circuit breaker kicked in this week and only the third time in history.īy noon, stocks began tumbling again, with the S&P 500 index down more than 8 percent. Just minutes after stocks opened for the morning, trading was closed down after shares fell 7 percent, resuming after 15 minutes. Thursday, futures for all three major indices - the S&P 500, the Dow Jones Industrial Average and the Nasdaq composite index - had dropped 5 percent, hitting the maximum allowable selloff price before the market opens. After the president announced a travel cutoff between the U.S. Pre-market trading had already shown signs of strain after Trump’s nationwide address. “It’s taken a big hit but it’s going to all bounce back and it’s going to bounce back very big at the right time,” Trump said during brief remarks to the press at the White House. Meanwhile, Trump, whose Oval Office address on Wednesday night helped spark the selloff, said the markets will bounce back quickly. But Congress’ efforts to assemble an aid package foundered with partisan disputes preventing any action during trading hours. The Federal Reserve announced a series of massive cash injections, including the purchase of longer-term government bonds in a $1.5 trillion infusion over the next two days. Regulators and politicians rushed to stop the bleeding with promises of economic stimulus. Still, it was a blistering day for stocks - the worst since the infamous 1987 “Black Monday” event when shares fell more than 20 percent.
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