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Stocks remain down after large drop in prices Monday

Video Credit: WLFI - Published
Stocks remain down after large drop in prices Monday

Stocks remain down after large drop in prices Monday

Monday marked one of the worst days for investors since the 2008 stock market crash as stocks fell just minutes after markets opened.

History monday as stocks fell just minutes after markets opened.

News 18's balint szalavari met with a professor of finance at purdue to discuss what the future holds for investors.

As he reports, there is more to the market's crash than the ongoing coronavirus outbreak.

According to purdue professor of finance john mcconnell, stocks are down around 20 percent over the last few weeks.

Mcconnell: "that represents billions of dollars of losses to us investors."

Monday marked one of the worst days for investors since the 2008 stock market crash.

The new york stock exchange was even halted for the first time in more than a decade.

Mcconnell says such halts only happen in certain cases.

Mcconnell: "the rate of decline is so extraordinary that the exchange officials conclude that it's appropriate to take a breather."

According to mcconnell, the global decline in oil prices have played a role in driving down stocks.

Mcconnell: "that stems from an oil price war between saudi arabia and russia."

But he says this isn't the only reason stocks have crashed.

Mcconnell: "the coronavirus is having a significant global effect on corporate profits, production and employment."

Mcconnell says investors should wait to see how the market changes over the next few days.

Mcconnell: "we hope for the best and hope that the virus is contained and controlled and eliminated."

Reporting from purdue, balint szalavari, news 18.

Wall street has shown some improvements since opening this morning.

But markets remain a virtual clinic is providing indiana residents coronavirus screenings.

Iu health created the




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