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U.S. Steel Corp. ($X) Plummets to Support Level

U.S. Steel Corp.’s stock fell more than 17% today after reports that President Joe Biden plans to prevent the company from merging with Japan’s Nippon Steel due to national security concerns. X is trading near a key yellow support level, and X could bottom out around $26.90. The price has dropped sharply so I would monitor $26.90 to see if the support level holds.

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