MSCI all-country world stocks index slumped more than 5% on Monday and was on track for its biggest daily drop since the depths of the global financial crisis in December 2008 as a oil price crash led to a massive sell-off.

Those moves have wiped roughly $2.5 trillion in value off global stocks.

The benchmark S&P 500 fell 7% on day, triggering an automatic 15 minute halt put in place after the 2008-9 financial crisis.

(Reporting by Thyagaraju Adinarayan; Editing by Saikat Chatterjee)