Stocks plummeted over 9% upon opening, triggering a market-wide halt for 15 minutes as traders on the floor yelled, 'Halt! Halt!' The S&P 500 dropped 8.14%. The Nasdaq Composite slid 6.1%. The market dip comes despite an emergency decision by the Federal Reserve to slash interest rates to zero — a drastic, last resort move by the Fed to help stimulate the economy. The major concern for investors is consumer spending, as major cities across the U.S. begin to close down all nonessential businesses as the coronavirus continues to spread.
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