US stocks finished sharply lower on Thursday, with all three major indexes closing down more than 3%.
Worries about the global coronavirus outbreak once again spurred a selloff in stocks.
Here’s where things stand:
- The Dow closed 970 points, or 3.6%, lower, wiping out nearly all of its Wednesday gains. It was the fifth worst one-day point drop in history for the index.
- The S&P 500 finished down 3.4%.
- The Nasdaq Composite fell 3.1%.
Investors plowed money into safe haven assets like bonds. The 10-year Treasury bond yield dropped to a new record low below 0.91%. Bond yields move in the opposite direction of bond prices.