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S&P Trading Halts After Huge Drop And Fed Emergency Rate Cut

NEW YORK (CBSNEWS.COM) - Stock trading was halted Monday morning after the Federal Reserve's emergency action to slash its benchmark interest rate to nearly zero failed to quell Wall Street's fears of a recession that could emerge from the coronavirus pandemic.

Stock data indicator analysis on financial market trade
(credit: Getty Images)

Across the country, states and cities are closing schools, bars and restaurants in an effort to slow the disease but which leaves millions of Americans vulnerable to income losses.

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