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.
The S&P 500 index fell 106.18, or 3.4%, to 3,023.94.
The Dow Jones Industrial Average slumped 969.58, or 3.6%, to 26,121.28.
The Nasdaq lost 279.49, or 3.1%, to 8,738.60.
The Russell 2000 index of smaller company stocks fell 52.37, or 3.4%, to 1,478.82.
For the week:
The S&P 500 is up 69.72 points, or 2.4%.
The Dow is up 711.92 points, or 2.8%.
The Nasdaq is up 171.23 points, or 2%.
The Russell 2000 is up 2.39 points, or 0.2%.
For the year:
The S&P 500 is down 206.84 points, or 6.4%.
The Dow is down 2,417.16 points, or 8.5%.
The Nasdaq is up 234.01 points, or 2.6%.
The Russell 2000 is down 189.64 points, or 11.4%.