Stocks sink, bonds soar on fears virus will stunt economy

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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 joined a growing list of companies warning that the outbreak would hurt its finances. The Dow Jones Industrial Average fell 878 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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