Stocks sink, Treasury prices soar as investors seek safety

Friday, February 21, 2020, Vol. 44, No. 8
The Associated Press

Stocks fell and bond prices rose sharply on Wall Street Friday amid fresh signs that the viral outbreak that originated in China is weighing on U.S. companies.

The yield on the 30-year Treasury reached a record low as investors sought the safety of U.S. government bonds. The price of gold also rose.

The S&P 500 fell 35 points, or 1.1%, to 3,337. The Dow Jones Industrial Average fell 227 points, or 0.8%, to 28,992.

Technology companies, which have much greater exposure to China than other industries, fell the most. The Nasdaq lost 174 points, or 1.8%, to 9,576.