Markets sink following record retail drop, Trump's WHO defunding
By Niv Elis - 04/15/20 09:39 AM EDT
Markets plunged Wednesday morning following news that retail sales suffered a record drop in March and President Trump announced plans to defund the World Health Organization.
The Dow Jones Industrial Average was down 500 points, or 2.1 percent, while the S&P 500 was down 62 points, or 2.2 percent.
On Tuesday, Trump said he would withhold funding from the WHO pending a review of the organization as the world deals with the worst pandemic in a century. The move faced significant pushback from a slew of health experts.
The pandemic and efforts to contain it have battered the economy. The Commerce Department on Wednesday reported an 8.7 percent drop in March retail sales, the largest one-month drop since tracking began 28 years ago.
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https://thehill.com/policy/finance/492888-markets-sink-following-record-retail-drop-trumps-who-defunding