Stock Market Rout Deepens on Virus Worries
(Worthy News) – The Dow Jones industrial average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy.
Bond prices soared again, sending the yield on the 10-year Treasury to another record low. When yields fall, it’s a sign that investors are feeling less confident about the strength of the economy going forward.
The S&P 500 is now 12% below the all-time high it set just a week ago. This is now the stock market’s worst week since October 2008, when Wall Street was mired in the financial crisis.
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