NEW YORK (AP) – Stocks and bond yields fell sharply on Thursday as fears about the fallout from the viral epidemic made markets tremble more.
The Dow Jones Industrial Average fell 969 points, or 3.6%, wiping out most of its 1,173 point increase a day earlier.
Treasury bill yields fell to an all-time low as investors invested money in low-risk investments. The yield on 10-year Treasury bills, a benchmark for mortgages, fell to 0.91%.
Markets have been stuck on a roller coaster from top to bottom for weeks due to uncertainty about the damage the new coronavirus epidemic will cause to the global economy.
This puts more pressure on companies, with companies lowering their profit targets or completely canceling their forecasts, as it is unclear how long the epidemic will remain disruptive.
World markets fell overnight after trade moved west from Asia to Europe.
The losses were widespread, but not as great as earlier in the morning.
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