U.S. stocks fell sharply again at the start of Wednesday’s session as investors grappled with a flood of plans by governments to limit the economic blow of the COVID-19 outbreak and debated whether the measures will be enough to limit the economic blow.
The S&P 500 index tumbled about 5%, while Treasuries were steady after the biggest yield jump since 1982 on Tuesday, and U.S. municipal bonds extended the worst fall 1987 as markets braced for a flood of government borrowing. Crude oil prices dropped to an 18-year low and the U.S. dollar rose for a seventh straight day.
