Stocks Fall, Bonds Climb on Virus Fears; Oil Drops: Markets Wrap
Bloomberg - U.S. stocks slumped following losses in Europe and Asia amid growing concern that a virus spreading from China could curb global growth. Treasuries climbed and crude oil dropped.
Makers of consumer goods were among the biggest drags on the S&P 500 Index as investors tried to gauge the virus’s potential impact. Mining companies led the Stoxx Europe 600 Index lower after declines from Seoul to Sydney. China’s Shanghai Composite Index plunged 2.8% on the last trading day before the Lunar New Year holiday, the biggest drop in eight months.