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Stocks sink, bonds soar on fears virus will stunt economy


Treasury
United Airlines
Mastercard
American Airlines
BMO Wealth
Nasdaq
Apple
Nvidia
TradeWeb
JPMorgan Chase
Bank of America
5%.Real
the Centers for Disease Control and Prevention
Moderna
Exxon Mobil
Nuveen
the Federal Reserve
FactSet
AP Medical


Yung-Yu Ma
Russell
Nancy Messonnier
Brian Nick
Damian J. Troise
Mike Stobbe


Americans


Europe
the Middle East
Asia

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U.S.
China
the United States
South Korea
Japan
Italy
Iran

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Positivity     39.00%   
   Negativity   61.00%
The New York Times
SOURCE: https://apnews.com/eef8077b7e551f665b36cf8e57e66051
Write a review: Associated Press
Summary

Stocks slumped again on Wall Street Tuesday, piling on losses a day after the market’s biggest drop in two years as fears spread that the growing virus outbreak will put the brakes on the global economy.Nervous investors snapped up low-risk U.S. government bonds, sending the yield on the 10-year Treasury note to a record low.The benchmark S&P 500 has lost 7.6% over the last four days, it’s worst such stretch since the end of 2018. At Apple, which said last week that the virus will force it to fall sort of a previous quarterly revenue forecast, $158.6 billion in market value has vanished in the last four days.One measure of fear in the market, which shows how much traders are paying to protect themselves from future swings for the S&P 500, touched its highest level since December 2018, when stocks were tumbling on worries about a possible recession.The chief risk is that the stock market was already “priced to perfection,” or something close to it, before the virus worries exploded, according to Brian Nick, chief investment officer at Nuveen.After getting the benefit of three interest-rate cuts from the Federal Reserve last year and the consummation of a “Phase 1” U.S.-China trade deal, investors were willing to pay high prices for stocks on the expectation that profits would grow in the future.

As said here by ALEX VEIGA and STAN CHOE