U.S. stock trading halted as S&P tumbles 

U.S. stock trading was halted as the S&P 500 plunged by over 9 percent on Monday morning triggering the third circuit breaker in two weeks despite the Federal Reserve slashing interest rates to zero amid the COVID-19 crisis. 

The Fed on Sunday made its second emergency rate cut in less than two weeks to douse the volatility, cutting the benchmark borrowing rate to a range of 0-0.25 percent, the most dramatic move since the 2008 financial crisis. 

At 9:45 a.m. ET, the Dow Jones Industrial Average was down 2,748.64 points, or 11.85 percent, at 20,436.98, the S&P 500 was down 264.65 points, or 9.76 percent, at 2,446.37 and the Nasdaq Composite was down 922.27 points, or 11.71 percent, at 6,952.60.

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