LATEST: Dow Jones plummets more than 800 points, extending a week of steep declines triggered by coronavirus fears.
FILE - In this Feb. 24, 2020, file photo trader Michael Milano works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 27.
Bond yields continued sliding in a further sign that investors were shifting money into lower-risk assets. The yield on the 10-year Treasury fell further into record low territory, to 1.25% from 1.31% late Wednesday. Gold prices edged higher. In California, health officials say a new coronavirus case could be the first in the U.S. that has no known connection to travel abroad or another known case, a possible sign the virus is spreading in a community.
The price of crude oil fell 4.7%. The price has been falling sharply as investors anticipate that demand for energy will wane as the economy slows. Besides a sharply weaker Chinese economy in the first quarter of this year, he sees lower demand for U.S. exporters, disruptions to supply chains and general uncertainty eating away at earnings growth.
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