Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Stocks plummet amid coronavirus fears and oil-price crash


March 10, 2020

Richard Drew – Associated Press

Trader Michael Gallucci on the floor of the New York Stock Exchange Monday. Stocks fell at the sharpest rate since December 2008 as investors' worries about coronavirus effects were compounded by a price war in the oil industry.

Stocks took their worst one-day beating on Wall Street since the global financial crisis of 2008 as a collapse in oil prices Monday combined with mounting alarm over what the coronavirus could do to the world economy.

The staggering losses, including a 7.8% tumble in the Dow Jones Industrial Average, immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end in a way no one even imagined just a few months ago.


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