Traders work on the floor of the New York stock Exchange (NYSE) on on February 24, 2020 in New York City. Stocks fell over 1000 points on Monday as global concerns grow about the economic impact of the Coronavirus.
This is a live blog. Check back for updates.
6:53 am: Seeing indiscriminate selling in the premarket
We’re seeing a really active premarket already. Normally at this time of the morning, there are a handful of S&P 500 stocks trading. Right now, there are 334 S&P 500 stocks trading in the premarket, according to FactSet, and 326 of those are lower. Coronavirus related names like MGM Resorts are among the hardest hit. MGM is down 4% in premarket. One of the few up stocks is Clorox, up nearly 4% in the premarket. -Melloy
6:30 am: Here’s where things stand for stocks
It’s been a dismal week for stocks, and futures suggest there may not be a reprieve just yet. Here’s where things stand. —Fitzgerald
- Dow: dropped 3,225 points in the last 4 sessions, down 11.1% this week, putting it on track for its worst weekly performance since Oct. 2008.
- S&P 500: coming off six straight negative sessions, down 10.8% for the week, on track for its worst weekly performance since Oct. 2008.
- Nasdaq Composite: down 10.6% on the week, also on pace for its worst week since the financial crisis.
6:20 am: 10-year yield drops to fresh all-time low
The 10-year U.S. Treasury note yield fell to a fresh record low as investors sought out a safe haven from the stock market’s volatile downside moves. The benchmark rate broke below 1.2% for the first time ever, last trading around 1.18%. Yields move inversely to prices. It ended last week above 1.47%. Friday’s move come as U.S. stock futures pointed to another sell-off in equities. —Imbert
6:15 am: U.S. stock futures point to losses at the open, Dow set for more than 400-point drop
U.S. stock futures are pointing to losses across the board at the open on Friday. The looked set