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U.S. stocks plunged on Thursday with all the three major indexes declining more than 7 percent shortly after opening as an address from U.S. President Donald Trump failed to calm markets on potential economic damages from the coronavirus epidemic.

The S&P 500 declined 7 percent shortly after the opening bell, triggering a key circuit breaker that halted trading for 15 minutes.

Wall Street extended losses with the S&P 500 down more than 8 percent after the trading was resumed.

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