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.