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Dow drops sharply when Coronavirus Spike blocks US bounceback



Shares declined on Thursday as the US set another record for new coronavirus cases and raised doubts about a rapid recovery in the economy.

The Dow Jones Industrial Average fell 470 points, or 1.8%, to 25,596, the S&P 500 fell 1.38%, and the Nasdaq fell 0.79%. The tech-heavy index had hit an intraday record high on Thursday.

Walgreens Boots Alliance (WBA) – Get the report led the Dow down after the drug store chain posted weaker-than-expected earnings in the third quarter and discontinued its share buyback program as orders to stay at home in key markets around the world hit the company’s income statement.




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