$2.5 Trillion Wiped Out As World Stocks Crash Most Since 2008
As we previously noted, S&P futures triggered a “level one circuit breaker” after falling 7%, which means trading will be halted for 15 mins. The movement of US equity futures today is likely crash, then halt, crash then halt.
It’s only a matter of time before more intervention is seen…
Remember when the Fed did an emergency rate cut last Tuesday? Good times.
— GreekFire23 (@GreekFire23) March 9, 2020
As for global stocks, it’s much of the same. MSCI All-Country World Stocks Index is down 5.3%, on the worst day since December 2008. The move has wiped out roughly $2.5 trillion in value of global stocks, noted Reuters.
Here’s iShares MSCI World ETF down -8%, back to August 2017 levels.