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Dow Jones industrials sink 1,000 points as fears of fallout from the spreading virus outbreak grip stock market again

Dow poised for best year since 2013
Posted at 10:45 AM, Mar 05, 2020
and last updated 2020-03-05 13:46:43-05

NEW YORK (AP) — Stocks are sliding 3% on Wall Street, at one point cutting another 1,000 points off the Dow Jones Industrial Average, as fear about a fast-spreading virus once again grips markets.

Thursday's drop nearly wiped out the surge of 4.5% the day earlier. Treasury yields sank again toward 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 economy.