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Market Snapshot: Dow sinks 400 points as Nasdaq tumbles 7% from record high on concerns about inflation and Washington’s debt feud

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U.S. stock benchmarks trade under heavy pressure midday Monday, with the path for equity markets uncertain, as tense negotiations on the debt ceiling play out and the U.S. economy attempts to rebound from the COVID-19 pandemic as concerns about sticker-than-expected inflation grow.

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