US stocks, bonds and oil continue to slide Friday
By SCOTT REEVES in New York | chinadaily.com.cn | Updated: 2020-03-07 06:15
US stocks fell Friday, oil prices slid and investors pushed bonds to a new low as the threat of global economic disruption due to the coronavirus continued to roil the markets.
The Dow Jones Industrial Average fell as much as 894 points in intra-day trading, but closed at 25,864.78, down 256.50 points, or 0.98 percent.
The S&P 500 lost 51.57 points, or 1.71 percent, and closed at 2,972.37. Nasdaq fell 162.98 points, or 1.87 percent, and closed at 8,575.62.
The yield on the US Treasury’s 10-year note fell below 0.7 percent for the first time, but closed at 0.71 percent.
Brent crude oil futures, the global benchmark and a proxy for future economic activity, declined $4.72 a barrel, or 9.4 percent, and closed at $45.27 — the lowest since 2017.
Investors fear spread of the coronavirus will break worldwide supply chains, disrupt production and depress company earnings, making current stock prices too high.
