$2.5 Trillion Wiped Out As World Stocks Crash Most Since 2008

As we previously noted, S&P futures triggered a "level one circuit breaker" after falling 7%, which means trading will be halted for 15 mins. The movement of US equity futures today is likely crash, then halt, crash, then halt.

It's only a matter of time before more intervention is seen…

As for global stocks, it's much of the same. MSCI All-Country World Stock Index is down 5.3%, on the worst day since December 2008. The move has wiped out approximately $2.5 trillion in value of global stocks, noted Reuters.

Here's iShares MSCI World ETF down -8%, back to August 2017 levels.

As a reminder:

· If the S&P 500 declines 7%, (208 points), trading will pause for 15 min

· If declines 13%, (386 pts) trading will again pause for 15 mins

· If falls 20%, (594 pts) the markets would close for the day.

Trading halts are currently sweeping across the world, one of the first times since the 2008 financial crisis. Black Monday?

Americans are panic searching "Black Monday" on Google as their 409ks plunge. Related queries include "Vix," "NYSE circuit breakers," "what was Black Monday," and "Black Monday October 1987." 

The search term "market halt" exploded at cash open. 

Not surprising whatsoever, but Robinhood trading app is down again - search term "Robinhood down" erupts into cash open.