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Asia markets broadly recover following extended rout on Wall Street

CNBC.com
Asia markets broadly recover following extended rout on Wall Street

Overnight on Wall Street, stocks continued to dive for the second straight day. The Dow Jones Industrial Average dropped by 545.91 points to close at 25,052.83, while the S&P 500 fell by 2.1 percent to end the trading day stateside at 2,728.37 — below its 200-day moving average for the first time since April. The Nasdaq Composite also declined by 1.3 percent to close at 7,329.06. Commenting on the plunge in stocks stateside, U.S. President Donald Trump said on Thursday from the Oval Office: "It's a correction that I think is caused by the Fed and interest rates." Trump said he believes the U.S. central bank's monetary policy "is far too stringent," adding that "they're making a mistake and it's