Markets dive as COVID-19 grips the globe
Global equity markets pushed lower Friday after more than 95,000 cases of COVID-19 were reported as of Thursday by the World Health Organization. Of those cases, 15.5%, or about 15,000, have been reported outside of the virus's origin country of China.
The virus's global spread has dragged global equities lower. After what looked like a promising start to a new year, the MSCI ACWI index's year-to-date return was about -7% midday Friday, while the S&P 500 was down 8.6%. Declines have led to an exodus from risky assets and into safer bets like Treasuries. The 10-year Treasury was yielding near 0.7% Friday, its lowest mark since at least the Kennedy administration, and half its previous low set in September.