Wall Street stops trading as stocks fall by 8% on opening due to coronavirus

Stocks fell 8% in the first minutes of trading Monday on Wall Street and triggered another temporary halt to trading as huge swaths of the economy come closer to shutting down, from airlines to restaurants, abc30.com reports.
Emergency actions taken by the Federal Reserve late Sunday to prop up the economy and get financial markets running smoothly again may have raised fears even further, some investors argued.
The selling was just as aggressive in markets around the globe. European stocks and crude oil were both down close to 10%. The world’s brightest spot may have been Japan, where the central bank announced more stimulus for the economy, and stocks still lost 2.5%.
The spreading coronavirus is causing businesses around the world to close their doors, which is draining away revenue. That has economists slashing their expectations for upcoming months, and JPMorgan Chase says the U.S. economy may shrink at a 2% annual rate this quarter and 3% in the April-through-June quarter. To many investors, that meets the definition of a recession.
The Federal Reserve has been trying to do what it can to help the economy, and over the weekend it slashed short-term interest rates back to their record low of nearly zero.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Gfk
- 1) Israel honors Pfizer CEO Albert Bourla at Independence Day celebrations
- 2) AHEPA establishes new award to honor outstanding high school athletes in the US
- 3) UNWTO: Advancing harmonized travel protocols and financing tourism's survival
- 4) Greek island of Corfu birthplace of late Prince Philip of Britain remembers him fondly
18/04 14:45
Major cruise operators to relaunch Greece itineraries in July
18/04 14:40
Fewer than 1,000 asylum seekers hosted at VIAL hotspot of Chios for the first time
18/04 14:30
Greek FM meets counterparts of Cyprus, Israel and the United Arab Emirates
18/04 13:15
Culture Minister meets with Lebanese FM: Greece is open to any cultural cooperation
18/04 11:04
Greece records 2,411 new COVID-19 cases and 67 fatalities during the last 24 hours
17/04 13:47
Greek firm announces new strategic energy project in Albania
17/04 13:43
WTTC: Travel & Tourism sector’s contribution to Germany’s GDP dropped €161 billion in 2020
17/04 13:41
17/04 13:31
Greece and Israel sign off on international flight training center in city of Kalamata
17/04 13:17
Survey: Greece’s smokers binge on tobacco despite COVID-19 pandemic
17/04 13:06
Israel honors Pfizer CEO Albert Bourla at Independence Day celebrations
17/04 13:00
Greek PM visits Corinth Canal to be briefed on the restoration plan
17/04 12:20
Quadrilateral meeting of Greece, Cyprus, Israel, UAE in Paphos extends cooperation
17/04 11:10
Admissions rate stabilizes but hospitals still under pressure in Greece
16/04 22:20
Migrant departures again surpassed arrivals in Greece during first quarter of 2021
16/04 22:12
National Hellenic Student Association to Host Digital Spring Convention on April 16-17
16/04 21:50
Conference: Cyprus tourism will continue to face challenges during summer 2021
16/04 21:45
Park project at old Pyrkal premises auctioned in Greece by early 2022
16/04 19:56
Over 100 events honoring Independence Bicentennial in Greece and abroad
16/04 19:36
WHO/Europe chief visits vaccination megacenter in Maroussi suburb of Athens
16/04 19:22
Greece records 3,067 new Covid-19 infections and 91 deaths on Friday
16/04 19:12
16/04 18:59
Media: Greece will not quarantine tourists from EU, US, UK, UAE, Israel and Serbia
16/04 16:16
Greek Prime Minister announces fast and free access to land registry
16/04 13:06
Greek Orthodox Archbishop urges vaccinations as Easter travel remains uncertain
16/04 11:18
Minister: Cyprus tourism recovery will hugely depend on vaccinations
16/04 00:20
New WHO office on quality of care and patient safety opens in the Greek capital
16/04 00:05
AHEPA establishes new award to honor outstanding high school athletes in the US
15/04 23:32
Israeli Ambassador to Athens: Greece and Israel anchors for stability
15/04 23:26
Major parties vote for bill simplifying business procedures in Greece
15/04 23:25
IATA issues statement on US Centers for Disease Control study
15/04 22:21
Greek Tourism Minister in Moscow to promote reopening of sector
15/04 21:41
15/04 21:21
IATA warns that lengthy UK border checks put travel sector restart at risk
15/04 20:59
Greek government makes COVID-19 self-tests mandatory for more workers
15/04 20:31
Embassy of Greece and UCLA SNF Center present poet Odysseus Elytis event on April 17
15/04 19:16
Greece records 3,833 new Covid-19 infections and 104 deaths on Thursday
15/04 18:38
Greek Orthodox Church calls for Easter openings during COVID-19 pandemic
15/04 17:41
Greece, Cyprus, Israel, UAE FMs to discuss tourism in Paphos on Friday and Saturday
15/04 14:53
Greek Civil Servants Confederation declares nationwide strike on May 6
15/04 11:45
UNWTO, ONCE foundation and ENAT delivering accessible tourism for everybody
15/04 01:44
Draft bill simplifying bureaucratic procedures welcomed by major parties in Greece
15/04 00:26
Greece acquires two new air ambulance planes through $18M SNF grant
14/04 23:54
Greece, Cyprus, Lebanon trilateral foreign ministers' meeting held in Athens on Thursday
14/04 22:48
Tourism test: Paid Dutch vacationers on Rhodes can't leave 5-Star hotel
14/04 21:38
Greek Orthodox Archbishop of America receives letter from US President
14/04 21:29
Mandatory self-tests extended to selected public and private sector jobs in Greece
14/04 21:26
Walking through history: Tracing resistance and the Great Famine in Athens on April 15
14/04 19:48
Cyprus ministries in consultation to prepare health protocols for cruises
14/04 19:44
Greece records 3,089 new Covid-19 infections and 81 deaths on Wednesday
14/04 19:10
1/3 of striking civil staff to remain on the job to prevent disruption of services in Greece
14/04 18:53
Over 1,100 refugees transferred off Lesvos island during the last 20 days
14/04 17:34
Greek Tourism Minister visits iconic photo exhibit while on official visit to Russia
14/04 16:01
European Union Court rejects two Ryanair challenges of airline subsidies
14/04 12:31
Greek Alternate Foreign Minister on official visit to Italy on Thursday-Friday
14/04 10:20
First 33,600 doses of Johnson & Johnson single-shot vaccine delivered to Greece
13/04 23:27
13/04 23:21
Argentina-Greece: Global Literary Competition "200 Years of Freedom and Hellenism"
13/04 23:08
Greeks turn to rum, whiskey, beer to find comfort amid the pandemic
13/04 22:51
Cyprus considers adoption of AstraZeneca COVID-19 vaccine use restrictions
13/04 22:30
Easter gifts for all ages from the Museum of Cycladic Art in Athens
13/04 22:26
Greece records 4,033 new Covid-19 cases and 93 deaths on Tuesday
13/04 22:16
Free COVID-19 self-test kit distribution expanded to 900,000 Greek workers
13/04 21:13
Greeks may enjoy Easter vacations by utilizing self-tests this year
13/04 20:14
New vaccination mega-center at Greek city of Patras launched on Thursday
13/04 19:58
Orthodox Greek Easter performances live streamed by Athens Concert Hall on April 25-27
13/04 19:55
EU moves toward Greek proposal for COVID-19 travel passports
13/04 18:47
Pipeline repairs to affect water supply on Greek island of Salamina on Thursday
13/04 18:47
Greek Teachers Federation announces protest rallies on Wednesday and Thursday
13/04 16:04
Greek Labor Confederation announces 24-hour Labour Day strike on May 4
13/04 15:05
More than 1.5 million Greeks have received at least the first vaccine dose
13/04 14:20
Greece’s chief banker projects economic growth in spite of COVID-19 pandemic
13/04 14:07
EMBCA presented influence of Hellenic Revolution on medicine and wellness
13/04 01:53
Bill lifting restrictions for Diaspora Greeks registration in voters’ lists tabled
12/04 22:47
Foreign Minister visits Greek community in Benghazi of Libya
12/04 22:40
Health official: Inoculations with Johnson & Johnson's vaccine begin in Greece on April 19
12/04 22:33
New Democracy government will lift Greek Diaspora voting rights restrictions
12/04 21:34
Volume of private building activity up rises by 3.85 in Greece during January
12/04 21:31
UNWTO: Advancing harmonized travel protocols and financing tourism's survival
12/04 21:15
12/04 21:03
12/04 20:22
Greek supermarket sales up increase by 1.9 pct during first quarter in 2021
12/04 19:16
Greece records 1,606 new Covid-19 infections and 76 fatalities on Monday
12/04 19:11
Artists and culture sector workers to organize protest in Athens on Thursday
12/04 18:30
Fitch Ratings: Greek debt sustainable despite the Covid-19 pandemic
12/04 13:37
Greek PM: Self-tests in retail, transportation, food delivery at the end of the week
12/04 11:23
The Hellenic-American Chamber of Commerce offers the Acropolis Museum first virtual tour
11/04 15:02
Greek President at Amfissa commemorating Salona Castle liberation
11/04 14:58
11/04 14:49
Diaspora in Argentina celebrates Greek Bicentennial with impressive video
11/04 14:45
Greek schools preparing for return of 16-18 year old students as of Monday
11/04 11:53
Archbishop of Greece: Older citizens must not hesitate to be vaccinated
10/04 22:33
Tourism 2021 survey: 95% of travelers eager to visit abroad as soon as bans are lifted
10/04 21:26
Cyprus seeks United Kingdom visitors as UK COVID-19 variant cases rise
10/04 20:25
Aviation urges Latin American governments to establish open dialogue for planning restart
10/04 15:00
Minister: Greece and Cyprus cooperating on issue of migration flows
10/04 14:55
Latest seaplane announced for holiday destination Kassandra of Halkidiki in Greece
10/04 14:51
President of Hellenic Republic expresses condolences on death of Prince Philip
10/04 14:37
Bank of Greece: Tourism plays leading role in Greek economic growth prospects
10/04 14:30
Stores in Greek city of Thessaloniki to reopen only for pick up of online orders
Survey: Greece’s smokers binge on tobacco despite COVID-19 pandemic
Greek firm announces new strategic energy project in Albania
Greece and Israel sign off on international flight training center in city of Kalamata
Greece records 2,411 new COVID-19 cases and 67 fatalities during the last 24 hours
Fire on Greek island of Samos partially under control (videos)
Sydney Council votes to rename the Marrickville Road precinct as Little Greece
WTTC: Travel & Tourism sector’s contribution to Germany’s GDP dropped €161 billion in 2020
Israel honors Pfizer CEO Albert Bourla at Independence Day celebrations
Greek PM visits Corinth Canal to be briefed on the restoration plan
Greek FM meets counterparts of Cyprus, Israel and the United Arab Emirates
Admissions rate stabilizes but hospitals still under pressure in Greece
New tender by central government for Athens and Thessaloniki bus systems
Dimitris Fragakis is the new Secretary General of Greek National Tourism Organization
Aviation industry: Working together to shape a sustainable future
Government asks parliament to fast-track data privacy bill in Greece
Quadrilateral meeting of Greece, Cyprus, Israel, UAE in Paphos extends cooperation
AP report: Trump promotes his own resort Doral for next G7 (video)
Major cruise operators to relaunch Greece itineraries in July
Media: Greece will not quarantine tourists from EU, US, UK, UAE, Israel and Serbia
Greek President: Alexandria's new library to contribute to world culture
Prime Minister: Greece Eurozone's 'pleasant surprise' in coming years