Stocks Tumble, Bonds Rally in Flight-to-Safety Bid: Markets Wrap

U.S. amps up Ukraine warnings; Russia says no invasion planned
Treasury 10-year yields slide below 2%, while gold surges

WATCH: Catherine Yeung at Fidelity International discusses her calls on China, PBOC policy and her outlook for earnings and the yuan.Source: Bloomberg

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By Rita Nazareth

February 16, 2022 at 5:25 PM EST

Updated on

February 17, 2022 at 4:22 PM EST

This article is for subscribers only.

Stocks slumped, while traders sought safety in bonds and other haven assets as heightened concern over geopolitical risks added to worries about the outlook for central bank policy.

About 85% of the companies in the S&P 500 fell on Thursday, while the technology-heavy Nasdaq 100 tumbled 3%. Meanwhile, the market’s so-called fear gauge -- the Cboe Volatility Index or VIX -- soared. Treasury 10-year yields dropped below 2%, while gold, the Japanese yen and the Swiss franc climbed. Oil declined despite the threat of economic sanctions that could disrupt global supplies. Bitcoin sank.