Coronavirus outbreak: NYSE opens with sharp declines on Monday | LIVE

March 17, 2020 By

Global markets were in free-fall Monday as a deep Federal Reserve interest rate cut to near zero did little to inspire confidence as investors fear the coronavirus pandemic is tipping the economy into recession.

The S&P 500 tumbled 9% on Monday, erasing all of its gains from a furious rebound late on Friday that happened seconds after Donald Trump declared a national emergency to combat the rapidly spreading coronavirus.

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