Virus fears grip markets again; stocks and bond yields slide

Financial Markets Wall Street_79418

(AP Photo/Seth Wenig, File)

NEW YORK (AP) – Stocks and bond yields fell sharply Thursday as fears about fallout from the virus outbreak sent more shudders through markets.

The Dow Jones Industrial Average sank 968 points, or 3.6% wiping out most of its surge of 1,173 points a day earlier. Treasury yields sank to 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 global economy.

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