Dow closes down nearly 900 points as coronavirus fears rise

The stock rout continued Tuesday as diving bond yields raised more concern that the global economy is slowing significantly because of the spreading coronavirus. The 10-year Treasury yield hit a record low as the Dow Jones Industrial Average added to Monday’s 1,000-point drop.

Comments from health officials warning of a possible outbreak in the U.S. also spooked investors, causing a turnaround in stocks, which had opened the day higher.

The Dow closed down 879 points, or 3.1%, at 27,081 after being up more than 180 points at one point shortly after the open. The S&P 500 slid 3% to 3,128, while the Nasdaq fell 2.8% to 8,965.

Monday’s session was the market’s worst in two years. The S&P 500 posted back-to-back declines of at least 3% for the first time since November 2008 during the financial crisis, according to Bespoke Investment Group. The Dow notched its worst two-session stretch since February 2018 and posted back-to-back losses of at least 800 points for the first time ever.

https://www.msn.com/en-us/money/markets/dow-closes-down-nearly-900-points-as-coronavirus-fears-rise/ar-BB10kPmV?li=BBnb7Kz

Just checked my retirement accounts. I've lost about $30,000 in value over the last two days. Ouch!