Virus Fears Grip Markets Again; Stocks and Bond Yields Slide
NEW YORK (AP) — Stocks and bond yields fell sharply Thursday as fears about fallout from the virus outbreak sent more shudders through markets.
The Dow Jones Industrial Average sank 969 points, or 3.6% wiping out most of its surge of 1,173 points a day earlier.
Treasury yields sank to more record lows as investors plowed money into low-risk investments.
The yield on the 10-year Treasury, a benchmark for mortgages, fell to 0.91%.
Markets have been stuck on an up-and-down roller coaster for weeks because of uncertainty about how much damage the outbreak of the new coronavirus will do to the global economy.