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Virus effects take hold as Trump calls criticisms a ‘hoax’

The coronavirus outbreak’s impact on the world economy grew more alarming on Saturday, even as President Donald Trump denounced criticisms of his response to the threat as a “hoax” cooked up by his political enemies. New data released by manufacturing powerhouse China, where the virus was first detected in December, showed a sharp drop in the purchasing managers’ index to 35.7 in February, down from 50 in January. Any reading above 50 indicates expansion, while a reading below shows contraction.

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