U.S. stocks plunge after Trump speech

U.S. stocks plunged on Thursday with all the three major indexes declining more than 7 percent shortly after opening as an address from U.S. President Donald Trump failed to calm markets on potential economic damages from the coronavirus epidemic.

The SP 500 declined 7 percent shortly after the opening bell, triggering a key circuit breaker that halted trading for 15 minutes.

Wall Street extended losses with the SP 500 down more than 8 percent after the trading was resumed.