What's Happening: Trump taps powers, auto factories closing

STEEM POSTS

These are some of the latest developments Wednesday in the world's coronavirus pandemic:

— PRESIDENT TRUMP INVOKES EMERGENCY AUTHORITY

President Donald Trump invoked emergency authority to marshal industry to fight the coronavirus as the economic fallout from the crisis mounted. The entire U.S. auto industry announced it was shutting down its North American factories. Stocks tumbled again on fears of a prolonged recession, falling so fast they triggered another automatic trading halt. The Dow Jones Industrial Average shed more than 1,300 points, or over 6 percent, and has now lost nearly all of the big gains it had posted since Trump's inauguration.


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