The S&P 500 and Dow Jones Industrial Index tanked 7 percent each at open hitting the lower circuit.
Trading on both the indices has been suspended for 15 minutes and will re-open at 9.49 am ET.
The carnage was the result of the steepest fall in crude oil prices since 1991, after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak.
Trading on both the indices has been suspended for 15 minutes and will re-open at 9.49 am ET.
The carnage was the result of the steepest fall in crude oil prices since 1991, after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak.
