U.S. stocks are sharply lower in early trading as traders flee risky assets.
The Dow Jones industrial average was down 180 points, or 1.2 per cent, to 16,136 in the first half-hour of trading Wednesday. It recovered some of an early loss that sent the index down as much as 369 points shortly after trading opened.
The Standard & Poor’s 500 fell 19 points, or 1 per cent, to 1,858. The Nasdaq composite fell 45 points, also 1 per cent, to 4,181.
Banks and health care stocks fell the most in early trading.
Bond prices soared as investors shifted money into safe-haven investments. The yield on the 10-year Treasury note plunged to 1.92 per cent from 2.20 per cent the day before, a huge move.