Stocks nosedived on Wall Street Thursday, sending the Dow Jones Industrial Average down by nearly 1,200 points and deepening a weeklong global market rout.
Bond prices soared again, sending the yield on the 10-year Treasury to another record low. Iinvestors worried that the coronavirus outbreak will wreak havoc on the global economy and shifted money to less-risky assets.
The latest losses extended a slide in stocks that has wiped out the solid gains the major indexes had posted early this year.
The S&P 500 fell 137.63 points, or 4.4%, to 2,978.76.
The Dow fell 1,190.95 points, or 4.4%, to 25,766.64.
The Nasdaq dropped 414.29 points, or 4.6%, to 8,566.48.
The Russell 2000 index of smaller company stocks lost 54.89 points, or 3.5%, to 1,497.87.
For the week:
The S&P 500 is down 358.99 points, or 10.8%.
The Dow is down 3,225.77 points, or 11.1%.
The Nasdaq is down 1,010.11 points, or 10.5%.
The Russell 2000 is down 180.74 points, or 10.8%.
For the year:
The S&P 500 is down 252.02 points, or 7.8%.
The Dow is down 2,771.80 points, or 9.7%.
The Nasdaq is up 406.13 points, or 4.5%.
The Russell 2000 is down 170.60 points, or 10.2%.