Stocks sink, bonds soar on fears virus will stunt economy

Traders Andrew Silverman, left, and Sal Suarino work on the floor of the New York Stock Exchange, Tuesday, Feb. 25, 2020. The stock market slide continued for a second day of trading. (AP Photo/Richard Drew)
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(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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