Investments  

Update: S&P drops 10% shortly after opening

It follows three weeks of market chaos. Some 16 per cent has been wiped from the S&P 500 since February 24, and last week the US government bond market — usually a strong diversifier against falling equities — was showing signs of strain.

Markets have also seen some of their biggest daily declines in 30 years as countries close borders and introduce lockdowns to curb the coronavirus crisis.

imogen.tew@ft.com

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