The Presidential Daily Brief

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    Financial Markets Experience Further Decline

    U.S. stocks tumbled yesterday in the largest daily decline on Wall Street since 2011, wiping out all of the year’s gains on the S&P 500 Index and Dow Jones Industrial Average. After a sharp drop in tech shares, the Dow lost more than 600 points while the S&P 500 fell 3.1 percent and the Nasdaq Composite dropped 4.4 percent. Asian and European markets also took hits today in response. Analysts blamed mixed corporate earnings and weak housing data as well as continued uncertainty about Brexit and a U.S.-China trade war.

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