Automatic circuit breakers kicked in shortly after trading opened in the US, (9.30am, just over an hour ago) when the S&P 500 index plunged seven per cent.
The Dow has also plunged 7 per cent, losing 1,696 points to 21,856 in opening trades.
This shows how investors are clearly more worried than ever about a global recession amid the COVID-19 pandemic and President Donald Trump’s surprise EU travel ban announced late on Wednesday.
Such a rapid plunge of American stocks caused a 15-minute trading suspension, as took place on Monday.
The FTSE 100 has plunged 9 per cent, shedding 546 points to just 5,330.37 – levels not seen since 2012, when Europe was in the midst of its own crisis.
European stock markets have also fallen by 10 per cent, which The Guardian believes would be the worst day ever for the Stoxx 600 index of EU companies.
