Led by airlines and other travel-oriented shares, Wall Street stocks suffered another bruising rout on Thursday, resuming their downward trend amid fears the coronavirus will plunge the US into recession.[NEW YORK] Led by airlines and other travel-oriented shares, Wall Street stocks suffered another bruising rout on Thursday, resuming their downward trend amid fears the coronavirus will plunge the US into recession.The broad-based S&P 500 slumped 3.4 per cent to 3,024.
Although stocks scored big gains Wednesday, Thursday's rough session marked a continuation of the broad retreat in recent days as the coronavirus has spread from China and emerged as a threat to global growth. Among the announcements Thursday, Russia cancelled its main business showcase set for June, the St Petersburg International Economic Forum, because of coronavirus, while Italy said its sporting events will be held behind closed doors until April 3.
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