Stocks slumped and bond prices soared for the second day in a row Tuesday as fears spread that the widening virus outbreak will put the brakes on the global economy.
Investors plowed money into bonds, sending the yield on the 10-year Treasury to a record low. The losses came a day after the market’s biggest drop in two years.
The S&P 500 index fell 97.68 points, or 3%, to 3,128.21.
The Dow Jones Industrial Average sank 879.44 points, or 3.2%, to 27,081.36.
The Nasdaq lost 255.67 points, or 2.8%, to 8,965.61.
The Russell 200 index of smaller company stocks dropped 56.21 points, or 3.5%, to 1,571.90.
For the week:
The S&P 500 is down 209.54 points, or 6.3%.
The Dow is down 1,911.05 points, or 6.6%.
The Nasdaq is down 610.98 points, or 6.4%.
The Russell 2000 is down 106.71 points, or 6.4%.
For the year:
The S&P 500 is down 102.57 points, or 3.2%.
The Dow is down 1,457.08 points, or 5.1%.
The Nasdaq is down 6.99 points, or 0.1%.
The Russell 2000 is down 96.57 points, or 5.8%.