Markets plunge 7 percent, triggering second trade pause this week

The Dow Jones Industrial Average plummeted nearly 1,700 points on Thursday following President Trump's announcement that travel from Europe will be suspended amid the global coronavirus outbreak.

The S&P 500 and Nasdaq Composite also sank 7 percent, triggering a "circuit breaker" to pause all trade at the New York Stock Exchange. The pause was also triggered on Monday for the first time since 2008 during the financial crisis.

"On Wednesday, the Dow ended its historic 11-year bull market run by closing in bear-market territory," writes CNBC, noting that Trump's later announcement was apparently "not specific enough" to reassure investors there is sufficient action to curb the economic effects of COVID-19.

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