U.S. Stocks Plunge Most Since Financial Crisis: Markets Wrap
- 10-year Treasury drops below 0.5%; S&P 500 nears bear market
- Crude prices in freefall after Saudi Arabia starts price war
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U.S. stocks plunged more than 7.5% in the worst day on Wall Street since the financial crisis, as a full-blown oil price war rattled financial markets already on edge over the spreading coronavirus. Treasury yields plummeted, crude sank 20% and credit markets buckled.