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All those stock market gains since US president Donald Trump signed a major tax overhaul in late December have vanished, after the Dow Industrial index posted its biggest one-day drop in history today (Feb. 5).

At one point, the Dow fell 6.3%, or nearly 1,600 points, which also cancelled its gains for this year, as investors fret over rising bond yields and the prospect of higher interest rates. It closed the day down 4.6%, or 1,175 points.