The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy.
Bond prices soared again as investors sought safe places to park money, sending the yield on the 10-year Treasury to another record low.
More companies including Microsoft are warning their results will be hurt. The S&P 500 is headed for its worst week since October 2008.
The Dow dove 1,193 points, or 4.4%, to 25,763. The S&P 500 lost 137 points, or 4.4%, to 2,978. The Nasdaq fell 414 points, or 4.6%, to 8,566.
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