Investors ditch market risk as stocks fall into correction [Reuters]
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Source: Reuters
Investors ditch market risk as stocks fall into correction NEW YORK (Reuters) - Fears of a sustained global economic impact as the coronavirus rapidly spreads beyond China have sent investors scrambling to find safety less than 10 days after the U.S. stock market set record highs. The S&P 500 fell more than 4% on Thursday, extending a market rout that has now sliced more than 10% off of its closing peak on Feb. 19, which would confirm that the benchmark index has been in a correction since then. Treasury bond yields, meanwhile, hit all-time lows for the third consecutive day while gold jumped more than 1%, a sign that investors were racing for safe havens. Investors and analysts said the market volatility will likely continue until there are signs that the virus, or COVID-19, has peaked in Europe or the United States. There have been 15 confirmed U.S. cases of the virus, according to the Centers for Disease Control. “The concern is the outbreak is just getting started,” said Sameer Sa
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