Asian stocks suffer, Treasury yields plumb new depths as virus spreads

Asian shares and U.S. stock futures fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown. Yields on 10-year U.S. Treasuries fell to a record low and two-year yields fell to the lowest in more than three years as investors increased bets that the Federal Reserve will follow this week's surprise 50 basis point rate cut with further easing to prevent corporate bond spreads from widening further. The spread of a new coronavirus has accelerated so much in Europe, Britain and North America that investors who once played down the virus are now re-assessing the risks, which means more volatility in financial markets.

from Yahoo Finance https://ift.tt/2TEF3g1