U.S. stocks, on Friday, plunged on the open, as yields on government bonds continued to slide over fears of the spread of the new coronavirus.
Yields on the 10-year government bond dipped to a record of about 0.65 per cent, before regaining some ground to 0.71 per cent, still exceptionally low.
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The S&P 500 was lower by about 2.9 per cent, while the Dow Jones Industrial Average and the Nasdaq also slipped.
The Chief Economic Adviser to the White House, Larry Kudlow, conceded that economic growth would slow as a result of the spread of the virus.