Holding Company Stocks Drop 7.5% as Outbreak and Volatility Rattle the Market

Monday's plunge hit an industry already facing long-term pressures

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The coronavirus crisis and an oil price war between Saudi Arabia and Russia is accelerating an economic slide that is spooking investors in just about every industry.

On Monday, trading was halted on the New York Stock Exchange for 15 minutes so investors could, according to NYSE president Stacey Cunningham, “have time to absorb information, better understand what’s happening in the market and make decisions accordingly.” By the end of the day, the Dow Jones Industrial Average closed down 2,000 points, effectively ending an 11-year bull-market run.

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