NEW YORK (AP) – The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that the coronavirus outbreak will throw global economy into recession.
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Even for a market beset by volaility in recent weeks, the losses were staggering. The 12.9% drop in the Dow was its worst since 1987.
The losses accelarated in the last hour of trading as President Donald Trump advised Americans to avoid large gatherings. He also said he sees a chance of recession and promised help to the strguggling airline industry.
The losses came as huge swaths of the economy come closer to a standstill due to the outbreak as businesses and travel shut down.
FAKE NEWS. ITS A HOAX. THE ORANGE FUHRER TWEETED SO. ITS THE DEEP STADT. ITS NORTH KOREA. ITS YOUR ZAYDEE! There’s a run on TP. Help!
Madinah….. letz go pardnerrs… Big bargains available on Blue chips… when it rockets up we’ll clean up… Don’t be such an angry dolt. OPPORTUNITY is ‘a’ nockin’
What would happen if the Dow would go all the way down to zero? Does that mean all the public companies would go bankrupt? Would the banks freeze all the cash? Would martial law automatically kick in? Would the banks grab everyone’s homes?