On Friday, shares on world markets fell again, investors rushed to the safety of government bonds, as wall street embraced a new wave of panic about the coronavirus.
The most dramatic movement in the financial markets on Friday became the strong fall in government bond yields. The yield on 10-year U.S. Treasury bonds fell for the first time for a short time below 0.7 percent. The yield is inversely proportional to bond prices, and the decline occurred as investors fled risky investments and put their money in Treasury bonds with low interest, but safe.
Stock index S & P 500 dropped 4 percent in the second half of the day before to create some ground to close 1.7 percent.
A strong report on the US labor market on Friday did not change the direction of markets. The US government said that employers added 273 000 jobs in February, but the data was a snapshot of the moment when the prevailing view was that the coronavirus will not affect the United States.
Oil prices also declined on Friday, when the major manufacturers have gathered at a critical meeting to try to agree on production cuts to try to cope with falling demand for oil because of fears over the coronavirus spread around the world.
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