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Feb. 25, 2020, 11:12 a.m. EST

Dow sinks more than 300 points to session low as 10-year Treasury rate hits record low at 1.321%

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By Mark DeCambre

U.S. stocks on Tuesday were giving up opening gains and trending firmly in negative territory as the 10-year Treasury note yield breached an all-time low, reflecting persistent worries about the impact of COVID-19, the illness derived from the novel s train of coronavirus, to supply chains and economies world-wide. The 10-year Treasury note hit an intraday low at 1.321%, according to FactSet data, which is just a few basis points below its 2016 nadir at 1.325%. Bond prices rise as yields fall. Stocks, meanwhile, appeared to come under pressure as yields for government bonds continued to edge lower. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.78% was off 329 points, or 1.1%, at 27,656, following a more-than 1,000-point drop for the blue-chip gauge on Monday. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.80% retreated 1.1% at 3,191, while the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +0.87% was down 1.1% at 9,116 in late-morning action. The 30-year Treasury note, meanwhile, has already hit an all-time low, achieved last week. The number of worldwide cases of COVID-19 continues to rise; there are now 80,238 cases in 34 countries and at least 2,700 deaths, according to the World Health Organization (WHO).

US : Dow Jones Global
+417.16 +1.78%
Volume: 340.04M
April 9, 2020 2:03p
+49.58 +1.80%
Volume: 2.63B
April 9, 2020 2:03p
US : U.S.: Nasdaq
+70.54 +0.87%
Volume: 2.23M
April 9, 2020 2:03p

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