Stock market live updates: Dow loses 3,200 points and counting on week, bond yields collapsing

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The 10-year U.S. Treasury note yield fell to a fresh record low as investors sought out a safe haven from the stock market’s volatile downside moves. The benchmark rate broke below 1.2% for the first time ever, last trading around 1.18%. Yields move inversely to prices. It ended last week above 1.47%. Friday’s move come as U.S. stock futures pointed to another sell-off in equities. —Imbert

U.S. stock futures are pointing to losses across the board at the open on Friday. The looked set to open nearly 400 points lower, with the and also pointing to losses. The sharp drop came after California Gov. Gavin Newsom said the state is monitoring 8,400 people for coronavirus.

The Dow plunged nearly 1,200 points on Thursday, the benchmark’s biggest one-day point drop ever, as worries over the coronavirus possibly spreading and denting global growth sent stocks in tailspin. The Dow, S&P 500 and Nasdaq all closed in correction territory, down at least 10% from its most recent high.

The Dow has lost more than 3,200 points this week, on pace for its worst week since the financial crisis. —Fitzgerald

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Source: https://www.cnbc.com/2020/02/28/stock-market-live-updates-dow-loses-3200-points-and-counting-on-week-bond-yields-collapsing.html

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