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The weeks of panic promoting as a result of unfold of the coronavirus has despatched the Wall Avenue right into a tailspin. The main indices slipped into bear territory in lower than a month and put an finish to the longest-ever bull market, which turned 11 on Mar 9.
In truth, buying and selling on the three main indexes was halted for the second time this week after a decline of seven% that triggered circuit breakers. Extra particularly, U.S. shares noticed their worst efficiency on Mar 12 since “Black Monday” on Oct 19, 1987. The most recent rout got here after President Donald Trump suspended all journey from Europe to the US for 30 days starting Mar 13 midnight, except the UK (learn: Bears Grip Market: 5 Safe ETF Investing Zones).
Fears of financial slowdown from coronavirus disaster have deepened with the quickly rising variety of circumstances world wide. The pandemic has now unfold to 114 international locations, infecting practically 130,000 folks worldwide and inflicting over 4,700 deaths. In the US, the demise toll climbed to 39 with over 1,300 infections. The state of affairs has led to suspension {of professional} sports activities video games, cancelation of main occasions, conferences and conventions, and half-empty eating places, signaling…