Stock plunge marks worst rout in 30 years global markets reel
US stocks tumbled with the S&P 500 down 12 percent and the Dow off nearly 3,000 points as fears of a recession grow. President Trump warned of a downturn while the Fed unveiled urgent actions to stabilize markets amid a widening shutdown of the economy. Major indices worldwide fell, with oil slumping and Japan’s stimulus offering the lone bright spot.
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Airlines seek more than 50 billion in federal relief
U S airlines push for grants and zero interest loans totaling up to fifty billion dollars as travel demand collapses from the coronavirus. Airlines for America names 29 billion in grants and up to 29 billion in loans, seeking tax relief and fuel and ticket tax suspensions through next year.
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