MINNEAPOLIS (AP) — President Donald Trump invoked emergency authority to marshal industry to fight the coronavirus, as the economic fallout from the pandemic mounted Wednesday with major U.S. auto manufacturers saying they are shutting down their North American factories.
The announcements came hours before China said the former virus epicenter of Wuhan and its surrounding province had reported no new cases, a dramatic development in the city overwhelmed by thousands of new patients each day when the outbreak was peaking there last month.
On a day of head-spinning developments:
— Stocks tumbled again on Wall Street 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%, and has now lost nearly all of the big gains it had posted since Trump’s inauguration. Oil dropped below $21 per barrel for the first time