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Dow drops 4% as US equities sell-off deepens

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Wall Street stocks fell further in mid-morning trading Wednesday amid rising signs the coronavirus outbreak could slow the US economy, posing significant recession risk.

[NEW YORK] Wall Street stocks fell further in mid-morning trading Wednesday amid rising signs the coronavirus outbreak could slow the US economy, posing significant recession risk.

After recovering some ground on Tuesday, the Dow Jones Industrial Average lost about 1,000 points or 4.0 per cent near 1450 GMT and stood at 24,013.13.

The broad-based S&P 500 slumped 3.6 per cent to 2,777.34, while the tech-rich Nasdaq Composite Index dropped 3.3 per cent to 8,071.02.

AFP