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Dow drops 1,000 points as coronavirus sparks stock market meltdown – live updates

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Global stock markets have turned into a bloodbath, with panicked investors selling off shares in droves on fears the coronavirus will send shockwaves through the global economy.

Taxpayers were forced to foot a redundancy bill of almost £350m last year after a string of household shopping names were brought to their knees by the crisis on the high street. The public paid out £346m to cover redundancies at failed firms including a wave of retailers and bust package holiday business Thomas Cook.

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