Stock market live updates: Stocks tank 10%, trading halted at one point, Dow off 30% from record

This is a live blog. Here’s the latest. 

There are a handful of stocks that can weather the current market storm, according to investment bank and research firm BTIG. The firm refreshed its list of “highest conviction investment ideas,” in light of the recent volatility and market turmoil.  BTIG has a buy rating on all the stocks on the list, and it expects them to rally over the next 12- months. Chipotle is at the top of the list, expected to rally 60% in the next year. 

CNBC PRO subscribers can read more here. – Fitzgerald

The Dow and S&P 500 entered a bear market last week, putting an end to the historic bull run that began in the throes of the financial crisis. Monday’s steep losses have sent the major averages further below their all-time high levels hit just last month.

The Dow is 29.5% below its all-time high level, while the S&P 500 is 27.8% below its high. The Nasdaq Composite is also 27% below its recent high. – Stevens

The Cboe Volatility Index, a measure of investor fear, spiked above 73 on Monday shortly after the opening bell. The VIX, a measure of the 30-day implied volatility of the S&P 500, surged 27% to 73.50 as stocks continued their downward spiral. – Fitzgerald

Germany is the latest European country to seal off its borders in an effort to contain the coronavirus outbreak, as the number of deaths in Europe jumped overnight.

As of Monday morning, Germany had shut its borders with Austria, Switzerland, France, Luxembourg, and Denmark. Only German citizens, those who reside in the country and work in a neighboring nation and vice-versa, and physical goods, can cross the German border. Though Berlin is not the first European capital to impose border restrictions, the move marked a U-turn in Chancellor Angela Merkel’s policy.

“It’s a crisis situation,” Friedrich Heinemann, head of public finance at the German-based think tank ZEW, told CNBC about the German decision. — Amaro


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