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Trading halted on New York stock exchange after Dow Jones and S&P500 both drop by 7% amid coronavirus outbreak

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Trading was halted on the New York Stock Exchange for 15 minutes after the Dow Jones and the S&P 500 both dropped by more than 7 per cent 

It comes amid an oil price war between Saudi Arabia and Russia, as well as ongoing uncertainty around the coronavirus outbreak.

Markets around the world have been crippled by the troubles, with the FTSE 100 opening 8 per cent down on Monday morning.

It was the worst open in London since the Brexit vote in 2016.

The price of a barrel Brent crude oil has dropped to $35.50, and further drops could be in the pipeline.

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