Stocks sink, bonds soar on fears virus will stunt economy

(AP) - Stocks slumped and bond prices soared for the second day in a row as fears spread that the widening virus outbreak will put the brakes on the global economy.

The losses came a day after the market’s biggest drop in two years.

Investors plowed money into bonds, sending the yield on the 10-year Treasury to a record low.

Mastercard and United Airlines joined a growing list of companies warning that the outbreak would hurt its finances.

Travel-related stocks took another drubbing, bringing the two-day loss for American Airlines to 16%.

The Dow Jones Industrial Average fell 879 points, or 3.1%, to 27,081. The S&P 500 fell 97 points, or 3%, to 3,128. The Nasdaq lost 255 points, or 2.8%, to 8,965.

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