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The Economic Rout Accelerates

You know you have a big economic problem when you roll out your grand solution and markets tank another 6%. That was the sorry story Wednesday, as the Trump Treasury disclosed its $1 trillion proposal to rescue the pandemic economy, and the panic accelerated.

The rout in stocks was the least of it. Oil fell 17% to about $20 a barrel, which is lower than it’s been since after 9/11. Financial markets also showed more stress, as asset holders liquidated holdings even in supposedly safe havens like Treasurys and gold. Money managers…

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