The novel coronavirus, COVID-19, which has been designated a global pandemic by the World Health Organization, is having a devastating impact on the U.S. economy. After peaking at 29,000 in February, the Dow Jones Industrial Average fell below 21,000 by mid-March – a nearly 30% drop. On March 16, the Dow fell by nearly 3,000 points, the largest single-day drop in history.

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