Tag: dives

Dow Jones dives 10%, S&P 500 sheds $2 trillion in value

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S&P 500 companies lost more than $2 trillion in value in the first few minutes of trading on Monday as investors panicked about the mounting damage from the coronavirus pandemic on the global economy. Trading on the three main U.S. stock indexes was halted for 15 minutes at the open, the third such pause in…

Yes Bank crisis: UPI’s use dives 40%, PhonePe lines go dead

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BENGALURU: An unexpected fallout of the Reserve Bank of India’s moratorium on Yes Bank was a disruption of the Unified Payments Interface (UPI) offered by fintech firms, which accounts for the bulk of digital transactions in the country. UPI transactions were down by about 40% on Friday, largely because PhonePe — which sees 20 million…