REUTERS: U.S. stock markets tumbled on Friday as fears of economic damage intensified with the global tally of coronavirus cases crossing 100,000, sending investors scurrying to the perceived safety of bonds.
"The sentiment is that we don't have under control and we don't know or understand how much worse things can get," said Keith Buchanan, senior portfolio manager at Globalt. "It's proving very difficult right now for market participants to look through another year of poor global growth and flat-to-negative earnings," said Peter Cecchini, chief market strategist at Cantor Fitzgerald in New York.
At 11:50 a.m. ET, the Dow Jones Industrial Average was down 588.90 points, or 2.25per cent, at 25,532.38, and the S&P 500 was down 82.56 points, or 2.73per cent, at 2,941.38. The Nasdaq Composite was down 245.22 points, or 2.81per cent, at 8,493.38.
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