JUST IN: Dow jumps more than 800 points after President Trump said he will take 'major' steps to ease concerns about the economy in light of the coronavirus outbreak.
Global stock markets plummeted Monday, after an all-out price war between key oil producers Saudi Arabia and Russia added to heightened concerns connected to the economic impact of the rapidly spreading virus. Companies have canceled industry gatherings, banned non-essential travel, and asked employees to work from home where possible. Health officials have even urged older people to avoid cruise ships, lengthy trips, and public events.
“We’ll be discussing a possible payroll tax cut or relief, substantial relief, very substantial relief, that’s a big number,” Trump told reporters at a news briefing Monday afternoon.with one official telling CNBC
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