NEW YORK (AP) – An early plunge of 7% on Wall Street has triggered a trading halt as a sell-off slamming global markets continued.

The Dow Jones industrials dropped more than 1,600 points, or 7%, the S&P 500 fell a similar amount.

Trading resumed after 15 minutes, with the major indexes falling further. The rout came after President Trump imposed a travel ban on most of Europe and offered few new measures to contain the economic impact of the coronavirus outbreak.

Benchmarks in Europe fell more than 7% even after the European Central Bank announced more stimulus measures. World markets are enduring violent swings amid uncertainty about how badly the outbreak will hit the economy.