Stocks, oil prices and government-bond yields slumped after South Africa raised the alarm over a fast-spreading strain of the coronavirus, triggering concern that travel restrictions and other curbs will spoil the global economy’s recovery.
The S&P 500 opened Friday about 1.4% lower, while the Dow Jones Industrial Average dropped 2.3%, or 835 points, in the early minutes of a holiday-shortened trading session. The Nasdaq Composite Index retreated 0.9%.