The yield on the benchmark U.S. 10-year Treasury briefly touched an all-time low of 0.499% in overnight trading.
with the Dow Jones Industrial Average set to open more than 1,000 points lower. The Dow and the S&P 500 both fell into correction territory as worries over the coronavirus deepened.
The Federal Reserve slashed interest rates by half a percentage point last week in between its policy meetings, the first such emergency cut since the financial crisis. The market has already priced in more aggressive easing— a 75 basis point reduction — at the Fed's March 18 meeting, according to theWhile the coronavirus poses a new threat to the global economy, the bond market has been flashing various warning signs about the economy for a while now.
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