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US President Donald Trump is considering declaring the coronavirus outbreak a national disaster to free up funds for the coronavirus response package, Reuters reported on Wednesday, citing a source familiar with the matter.

In the meantime, several news outlets have reported that President Trump could deliver an Over Office address later in the day.

Market reaction

The 10-year US Treasury bond yield reversed its direction in the last hour after rising as much as 5% and was last erasing 8.3% on the day. Moreover, Wall Street’s three main indexes were down between 4% and 5%.

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