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BREAKING: Dow drops 1,300 points to new low on the day after WHO declares coronavirus a global pandemic


tacobell fan

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Stocks plummeted Wednesday in another volatile session as Wall Street grappled with the rapid spread of the coronavirus as well as uncertainty around a fiscal response to curb slower economic growth from the outbreak.

 
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The Dow Jones Industrial Average traded 1,300 points lower, or more than 5%. The S&P 500 slid 4.6% while the Nasdaq Composite dropped 4.4%.

 

The World Health Organization declared Wednesday the outbreak a global pandemic. The number of coronavirus cases around the world totaled more than 100,000, according to data from Johns Hopkins University. In the U.S. alone, more than 1,000 cases have been confirmed. This increase in cases added to fears of a global economic slowdown and have increased calls for government intervention.

President Donald Trump suggested Tuesday a 0% payroll tax rate that could last until the end of the year. However, the timing of such policies being implemented remains uncertain. Sen. Chuck Grassley, who heads the Senate Finance Committee, said such a tax cut needed to be examined.

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Just now, VictoryTDP said:

Cut the mortgage rate to below zero ASAP 

Make the market fall to new lows.

We will buy all east fact houses and all stocks

Ade voopu lo GC kuda ichesthe settle aipotham kada vaa 

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1 minute ago, tacobell fan said:

The DOW now having the SECOND largest point drop ever, down 5,774 from its high and still dropping.

 

Vodiyamma ee trend ilane continue aithe all time record aidha yendi 

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