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Stocks Drop Most Since February 2018; Havens Gain: Markets Wrap

  • Dow falls by more than 1,000 points, erases gains for the year
  • Yen, gold benefit from refuge demand; crude oil plunges
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Peter Cecchini, Cantor Fitzgerald global chief market strategist, discusses the sell-off in U.S. equities.Source: Bloomberg
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U.S. equities tumbled, with the S&P 500 dropping the most since February 2018, as authorities struggled to keep the coronavirus from spreading more widely outside China. Havens including Treasuries and gold surged.

In a dramatic day across markets, these were some of the standout moves: