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Dow tumbles more than 1,000 points amid questions whether government action on coronavirus is sufficient

March 18, 2020

U.S. stocks fell sharply again at the start of Wednesday’s session as investors grappled with a flood of plans by governments to limit the economic blow of the COVID-19 outbreak and debated whether the measures will be enough to limit the economic blow.

The S&P 500 index tumbled about 5%, while Treasuries were steady after the biggest yield jump since 1982 on Tuesday, and U.S. municipal bonds extended the worst fall 1987 as markets braced for a flood of government borrowing. Crude oil prices dropped to an 18-year low and the U.S. dollar rose for a seventh straight day.

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