US stocks crash as Fed action fails to calm market panic

Trading on Wall Street

Trading on Wall Street was halted on Monday after stocks had plunged immediately after the opening bell, despite the promise by the US Federal Reserve to provide more stimulus. The sell-off continued after trading resumed.

At one point, the S&P 500 and the Dow crashed more than ten percent due to a wave of panic selling. The Nasdaq Composite, comprising the biggest US tech companies, slid more than seven percent.

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