All three major market indices ended Monday's trading session with a decline over -7% as investors fear the future economic impact of the growing COVID-19 epidemic. At market open, the S&P 500 dropped more than -7% in a few minutes, triggering the market to halt for 15 minutes to help prevent a panic filled sell-off. Monday marked the largest one-ay point loss for the Dow Jones in history, and the largest single-session percentage hit since the 2008 financial crisis.
Here's how the stock market closed to start another turbulent week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
In Major Stock News, oil company stocks took a harsh dive during Monday's sell off, with Diamondback Energy
In Stock Sector News, sector performance ended Monday's trading session with plunging new lows. The declines were as follows: Energy -20.08%, Financials -10.91%, Materials -9.26%, Industrials -9.20%, Information Technology -7.56%, Real Estate -7.15%, Communication Services -6.21%, Consumer Discretionary -6.18%, Utilities -5.64%, Health Care -5.19% and Consumer Staples -4.41%.
Lastly, in Commodity and Currency News, crude oil barrel prices have tanked below 20% as tensions between Russia and Saudi Arabia escalated further on Monday. This recent sell-off of crude oil began last week when OPEC failed to reach a decision on oil production cuts, causing what appears to be the beginning of a price war between Russia and Saudi Arabia. West Texas Intermediate