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The declines come a day after the Federal Reserve raised interest rates by the most in over two decades as it embarks on a high-stakes fight to bring down inflation.
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After plummeting 34% from its prior peak, the stock index has staged a steady recovery — gaining more than 50% since March, when lockdowns shut down much of the economy.
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Lawmakers early this morning reached an agreement on a bipartisan, $2 trillion economic relief package intended to keep the nation from falling into…
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U.S. stock indexes surged as negotiations continued over a massive stimulus package to help the crippled economy deal with the growing effects of the coronavirus pandemic.
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The Dow fell more than 900 points, leaving the index 2.8% lower than when President Trump took office. The drop culminated a staggering week of losses as the coronavirus impact took an economic toll.
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The Dow plummeted more than 1,300 points after President Trump announced new emergency steps. The New York Stock Exchange said that to protect its employees, it will close its trading floor Monday.
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In a rebound from its record plunge, the Dow gained more than 1,000 points as the White House planned a massive stimulus package and the Fed set up a new loan program to boost the economy.
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The Dow tumbled nearly 13% after the Federal Reserve aggressively cut interest rates to near zero and as the nation imposed more restrictions in an effort to curb the spread of the coronavirus.
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Analysts like to say that the stock market is not the economy. But a bear market reflects concerns and anxieties about the economy, and at times a bear market is accompanied by a recession.
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The Dow Jones Industrial Average fell nearly 10% — its biggest one-day drop since 1987 — as the coronavirus pandemic continued to rattle markets. Trading was temporarily halted earlier in the day.