US stocks post weekly drop as investors reach for safety

The yield on the 30-year US Treasury hit a record low and Wall Street posted its first weekly drop in three on Friday as renewed fears about the economic fallout of the coronavirus and disappointing data stirred concerns about the outlook for the US economy. The yield on the US 30-year bond fell below 1.9 per cent for the first time, sinking as much as 7 basis points to a record low of 1.89 per cent on Friday morning, New York time. The yield on the US 10-year was trading at 1.4713 per cent at pixel time.