The New York Stock Exchange fell sharply at the opening on Monday, with investors worried about a long-lasting global economic slowdown due to the resurgence of cases linked to the coronavirus outside China.
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Around 2:55 p.m. GMT, the Dow Jones Industrial Average fell by 2.64% to 28,228.13 points. The star index for the New York market is now down from its level at the start of the year.
The highly technological Nasdaq fell 2.88% to 9,301.18 points. The S&P 500, which represents the 500 largest companies on Wall Street, abandoned it 2.48%, to 3,254.86 points.
As a sign of investor interest in assets deemed less risky, the 10-year rate on US Treasury bonds plummeted to 1.369%, against 1.471% at the close on Friday. A fall in rates on the bond market is synonymous with an increase in bond prices and therefore an increase in demand.
Some observers were concerned that the 10-year bond rate might drop below that of 2-year bonds, which also fell very sharply.