The Earth has an equatorial bulge because it rotates. If it were to suddenly cease rotating, its surface would be transformed as the oceans migrated to opposite poles:
...eventually creating an equatorial megacontinent that would ring the earth and thus separate both polar oceans.
What a strange new world this would be. As the earth would stop rotating (but presumably still circle the sun), one night-and-day cycle would last an entire year. The new continent ringing the globe (2) would include a large part of current Mid-Atlantic, Indian and Mid-Pacific seabeds, perhaps re-emerging legendary continents like Mu, Atlantis and other lands lost beneath the waves...
(2) What would it be called? Pangaea – again? Ringland? Equatoria?