Dow and US stocks plunge again: Live updates - CNN

While stocks remain squarely in the red at midday, the three major US indexes have bounced back from their session lows.

The S&P 500 is down 7.1%, while the Dow is 7.7%, or around 1,780 points. The Nasdaq Composite fell 7.1%.

Stocks tripped a circuit breaker this morning when the S&P dropped more than 7%. But a circuit breaker can only be triggered once, which is why the index can now fall below 7% without trading being halted again. The next circuit breaker is at a 13% drop on the S&P.

The S&P was down as much as 11.4% at its low point earlier. The Dow fell nearly 2,800 points at its worst.

"There has been indiscriminate selling," said Ralph Bassett, head of North American equities at Aberdeen Standard Investments, in emailed comments about today's market activity.

Still, Bassett is staying put:

"At this stage we’re making very few changes to portfolios," he said. "The focus is on looking at how the drivers of these businesses are going to be impacted, but importantly their ability to fund their operations during what will likely prove an acutely weak period of demand for most companies."

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2020-03-16 16:05:26Z
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