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Dow plunges 1,300 points despite promises for coronavirus aid

U.S. stocks collapsed Wednesday and were briefly halted for trading as coronavirus lockdowns and travel restrictions expanded, rattling investors despite Washington’s promises for economic aid.

The Dow Jones industrial average tumbled more than 1,300 points, while the Standard & Poor’s 500 sank 5.2%, briefly triggering an automatic shock absorber for 15 minutes in afternoon trading. That marked the fourth time in eight trading sessions that circuit breakers were triggered. 

The Dow and the S&P 500 nearly erased all of their gains since President Donald Trump’s inauguration. The broad S&P 500 index had soared roughly 50% in that span when it hit records in mid-February.

Global markets have seen a wave of unprecedented volatility in recent weeks as investors grapple with border closures that have caused transportation chaos and imperiled economies. The border between Canada and the U.S. will close for non-essential travel, Trump confirmed in a tweet Wednesday. 

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