U.S. equity markets sank Friday as Big Tech and Big Oil detailed the impacts of COVID-19 and President Trump threatened action against China.

U.S. equity markets were under pressure Friday as Big Tech and Big Oil warned that COVID-19 is hurting business and President Trump threatened action against China, which he says wasn't sufficiently forthcoming about the severity of the outbreak. The Dow Jones Industrial Average dropped 434 points, or 1.76 percent, while the S&P 500 and the Nasdaq Composite tumbled 1.9 percent and 2.2 percent, respectively. The losses come just a day after both the Dow and S&P 500 wrapped up their strongest month in over 33 years.

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