It was another terrible day on Wall Street

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It was another terrible day on Wall Street
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JUST IN: The Dow closed below 20,000 total points for the first time since 2017. The index, which was down 6.3%, or 1,338 points, has erased nearly all its gains since President Trump took office.

There is a lot on investors' minds right now: expected recessions around the world, lower demand for energy and goods, and liquidity worries in financial markets.The selloff hit across asset classes on Wednesday.US stocks erased the prior session's gains and closed lower. They had staged a rebound rally on Tuesday, bouncing back from Wall Street's worst day since 1987.The Dow closed down 6.

Read MoreThe S&P 500 is also edging closer to falling below its January 2017 level. The index finished down 5.2%. The Nasdaq Composite closed down 4.7%.Trading was briefly halted during the early afternoon after the S&P fell 7%, thereby triggering the New York Stock Exchange's circuit breaker.

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