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July 14, 2020

Stocks slam into reverse

By STAN CHOE, DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

NEW YORK — Wall Street got a painful reminder that the coronavirus pandemic isn't going away, and a big early gain for stocks suddenly flipped to losses after California showed how it's still scarring the economy.

The S&P 500 fell 0.9%, with all the losses accumulating in the last hour of trading, after California said it will extend closures of bars and indoor dining across the state, among other restrictions. It's one of many states across the U.S. West and South where coronavirus counts are accelerating and threatening the budding recovery that just got underway for the economy.


 
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