Dow sinks 2.9% after rate cut fails to stem market’s dread

William O’Keefe, left, and Peter Tuchman work on the floor of the New York Stock Exchange, Tuesday, March 3, 2020. The Dow Jones Industrial Average dropped 785 points and bond prices surged after an emergency interest-rate cut by the Federal Reserve failed to reassure markets racked by worries that a fast-spreading virus outbreak could lead to a recession. (AP Photo/Richard Drew)

NEW YORK — Fear and uncertainty continue to control Wall Street, and stocks fell sharply Tuesday after an emergency interest-rate cut by the Federal Reserve failed to reassure markets wracked by worries that a fast-spreading virus will slam corporate profits and the economy.

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