U.S. Stocks Tumble, Bonds Surge on Virus Fears: Markets Wrap
- European shares slide as companies report coronavirus hit
- Treasuries surge across the yield curve as gold and yen rally
This article is for subscribers only.
U.S. stocks tumbled as volatility sparked by the spread of the coronavirus woes continued to grip financial markets. Treasury yields sank to record lows and haven assets surged.
The S&P 500 fell more than 3%, erasing the majority of Wednesday’s steep gains, as wild swings piled up. The benchmark has had the most volatile week since S&P Global Ratings cut the U.S. debt rating in 2011. Banks and tech shares led losses.