The rout in global stocks deepened as investors showed a lack of faith in the U.S. and European policy responses to the worsening spread of the coronavirus. The dollar surged.
The S&P 500 Index plunged as much 8.8% and the Dow Jones Industrial Average posted its biggest loss since the flash crash in May 2010. European stocks tumbled 12% in a record intraday rout. The selling that started the U.S. day triggered a 15-minute NYSE-mandated halt, and trading will stop again if S&P 500 losses reach 13% any time before 3:25 p.m. in New York.
Ten-year Treasury yields declined, but came off their lows of the day. Oil dropped along with gold. Brazil’s currency fell to a record.
Source : Bloomberg