This follows their signing on February 20 of amended contracts for two BEM expressways, which extended the company’s concession terms.

The Cabinet recently approved a Transport Ministry proposal to extend the two expressway concessions to the end of October 2035 in exchange for BEM dropping its legal challenges.

Saksayam send the end of litigation means the amended contracts will take effective on March 1.

One contract involves the Si Rat Expressway, also known as the Second Stage Expressway, and its Sectors A (Rama 9-Ratchadapisek), B (Phayathai-Bangkhlo), C (Ratchadapisek-Chaeng Watthana) and D (Bang Pa-in-Pakret).

Concessions for Sectors A, B and C were originally scheduled to expire at the end of this month and for Sector D in April 2027.

The second contract involves the Udon Ratthaya Expressway (Bang Pa-in-Pakret Expressway), with the original concession ending in 2026.

All three indexes entered correction territory after the open, having fallen 10 percent from their recent highs. The Dow was down 650 points by late morning, or about 2.3 percent. The Standard & Poor’s 500 and Nasdaq composite were down 2.3 and 2.8 percent, respectively.

As of late Thursday morning, the S&P 500 had suffered its worst percentage drop — 9.05 percent — in a calendar week since October 2008, said Howard Silverblatt of S&P Dow Jones Indices.

“At this point, if we closed here, it would be the worst Monday through Friday drop for the S&P 500 since the 18.20 percent decline in October 2008,” Silverblatt said. “The current and largest concern now is if consumers start pulling back on their spending. Consumer spending has been supporting the economy.”

Global markets also shuddered as the outbreak continues to spread beyond China. Japan’s Nikkei was down more than 2 percent as many Japanese schools were closed through early April.

European stocks also entered correction territory on Thursday. The pan-European Stoxx 600 fell 4 percent. Britain’s FTSE dropped 4.2 percent, as did and Germany’s DAX. In Italy — the country with Europe’s weakest economic growth in 2019 — Prime Minister Giuseppe Conte this week said the economic blow could be “very strong.”

From an economic standpoint, much of the focus had been on coronavirus’ repercussions for global supply chains, which rely heavily on manufacturing and production from Chinese factories. But now that public health officials are bracing for the outbreak to spread in the U.S., experts worry about an additional threat to the economy. Daily routines and consumer spending could grind to a halt if schools are closed, large gatherings are canceled and businesses close their doors.

Oil prices also continued to drop, and the yield on the benchmark 10-year Treasury note hit a new low, reflecting the anticipation that a slowdown is on the horizon.

The Wilshire 5000 has fallen five days in a row, the longest losing streak of 2020 and the longest string of negative days since September 24, 2019. The five-day loss of 2,792.16 points or 8.09 percent, represents a paper loss of approximately $2.9 trillion.

Goldman Sachs said in a note Thursday that the virus would slow economic activity across the planet. The financial services giant predicts no earnings growth this year and modest earnings growth in 2021.

“Our reduced profit forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for US exporters, disruption to the supply chain for many US firms, a slowdown in US economic activity, and elevated business uncertainty,” Goldman strategist David Kostin wrote in a note.

The outbreak has been met with inconsistent messaging from the Trump administration. President Trump is highly concerned about the stock market and is urging aides not to discuss the outbreak in ways that could rattle the economy further. Late Monday, top White House economic adviser Larry Kudlow said that investors should consider “buying these dips” in the market.

Still, analysts point to stark underperformance in oil, travel and leisure sectors, plus industries dependent on Chinese supply chains.

“If you’re looking for something to worry about, take your eyes off the stock ticker tape and look instead at the bond and oil markets,” said Ed Yardeni, president of Yardeni Research. “They continue to flash warning signals about the economy’s strength. And stock investors might be well served by watching them to confirm that any rally has legs.”

When the coronavirus outbreak first surfaced in the Chinese city of Wuhan, analysts initially sized up any potential hit to the global economy based on the 2002 SARS outbreak. But in the nearly 20 years since, the Chinese economy has become much more substantial and intertwined, triggering extreme uncertainty for economies and businesses worldwide.

“Every day we think we could be near a bottom, and every day we are not,” Cowen analyst Helane Becker wrote in a note early Thursday. “Today, there were more reports of the virus showing up in places like Croatia, France, Germany, Austria, Greece and elsewhere. Borders are lines on a map. The virus has spread, and the question is how much do people change their travel plans.”

Coronavirus’s rapid spread continues to raise the specter of a global pandemic. South Korea announced 505 new cases on Thursday, bringing its total to 1,766, including a U.S. soldier stationed on the peninsula. Iran reported 245 confirmed cases and a death toll of 26. Religious pilgrimages in Saudi Arabia have been halted and Tokyo’s plans to host the 2020 Olympics hang in the balance.

Even so, President Donald Trump struck an optimistic tone Wednesday evening during a White House news conference. Trump said the risk to America was “very low” and that the outbreak would swiftly be contained. Trump announced that Vice President Mike Pence will lead the administration’s response to the outbreak.

“We’ve had tremendous success, tremendous success beyond what many people would’ve thought,” Trump said. “We’re very, very ready for this.”

But immediately following Trump’s comments, Health and Human Services Secretary Alex Azar and Centers for Disease Control and Prevention Principal Deputy Director Anne Schuchat warned Americans to prepare for the number of cases to grow.

“We can expect to see more cases in the United States,” Azar said.

“We do expect more cases,” Schuchat said.

The latest fallout came earlier this week when a three-week shoot set in Venice for the seventh “Mission Impossible” film series was put on hold after the number of confirmed cases in Italy reached into triple digits.

“Out of an abundance of caution for the safety and well-being of our cast and crew, and efforts of the local Venetian government to halt public gatherings in response to the threat of coronavirus, we are altering the production plan,” a representative from Paramount Pictures said in a statement. “We will continue to monitor this situation, and work alongside health and government officials as it evolves.”

The coronavirus has already shut down much of China and its film industry, and officials with the U.S. Centers for Disease Control and Prevention, the National Institutes of Health and other agencies said this week it is “inevitable” that the virus would spread here.

China is the largest movie market outside the United States, and the domestic film industry could be severely affected if the virus spreads domestically.

Some film executives are already reacting. In addition to halting production on “Mission: Impossible VII,” Paramount has indefinitely suspended the Chinese release of “Sonic the Hedgehog,” which has been dominating the domestic box office. The releases of “Dolittle,” “1917,” “Jojo Rabbit” and “Little Women” there have also been suspended. A promotional tour and premiere scheduled to take place in April for the latest James Bond film, “No Time to Die,” has already been canceled.

On a recent earnings call, Imax chief executive Richard Gelfond said the company “faced head winds in China early this year due to the coronavirus,” which made for a “tough start” to 2020. “While the coronavirus is a serious short-term challenge, we see it as a rare, out-of-the-ordinary event that will ultimately pass,” he added.

An analyst who spoke on the condition of anonymity to be candid called the situation a “big mess” and told The Washington Post there is consternation in the film industry, partially because of how unprecedented the situation is. “We haven’t seen anything like this before, and we don’t know long it will last,” he said. “China now is a much bigger part of the overall box office than when SARS occurred.”

Before the outbreak, China was expected to surpass the United States as the largest movie market in the world this year, according to B. Riley FBR analyst Eric Wold.

Compounding the problem is that China began shuttering movie theaters just before the Lunar New Year, a time when they historically see the most foot traffic. As noted in the Hollywood Reporter, “Ticket revenue in China in the three weeks following the shutdown totaled just $3.9 million, compared to $1.52 billion during the same stretch last year.”

Studios are presented with a few difficult choices. They can release a film into a country that isn’t going to movie theaters (and, for the most part, isn’t able to). They can delay a film in hopes that they’ll be able to later release it in China, making it subject to the country’s restrictive policies on imported films. (As Peter Schloss, CEO at CastleHill Partners, a Beijing-based bank focused on the entertainment industry, told the Hollywood Reporter, “Imported films are likely to suffer in the rescheduling as we have to expect Chinese films to get priority.” Plus, as Wold noted, even if every film is eventually released in China, moviegoers may not immediately feel comfortable rushing back to reopened theaters.) Or they can send a film straight to video or streaming services, meaning they would probably never recoup production costs – much less turn a profit. (This is unlikely, Wold said, as it “would set a bad precedent.”)

Analysts seem confident that the current situation is a weatherable storm for these studios. What could prove potentially devastating for domestic studios is a widespread outbreak in the United States, one that keeps people sequestered in their homes.

“The real risk with the domestic market is if we see theater closures like we’ve seen in international markets. Do we get to the point where theaters are actually closing or where consumers don’t feel comfortable going into places where people are congregating?” Wold asked, pointing out that “where stock prices are hit the most in the past couple of days, it’s theater stocks, theme park stocks and places where people congregate.”

Still, he emphasized, “At this point, it’s perceived risk more so than actual risk.”

Central bank assistant governor Nawaron Dejsuvan said recently that the BOT had already discussed related issues with all banks, which have already stepped up measures to ensure safety of bank customers and staff.

The banks have already issued guidelines on proper practices to staff who travel to risk-prone countries.

She added that the central bank is closely monitoring the situation of the outbreak and continued to evaluate the situation with the banks.

Wednesday brings the Dow’s five-day losing streak to 2,390 points, erasing 8.15% off the blue-chip gauge. It’s the biggest five-day percentage loss in two years.

“This is the pullback that everybody says was long overdue and that will shake out some of the weak hands,” said Ivan Feinseth, chief investment officer at Tigress Financial Partners. “It’s all coronavirus. Every time the market starts to rally, another case pops up.”

New cases outside China exceeded those within its borders for the first time Wednesday, the World Health Organization reported. Investors are increasingly waking up to the potential fallout from an outbreak that has claimed nearly 3,000 lives, upended global supply chains, dramatically slowed travel and taken a bite out of corporate earnings. Oxford Economics says the virus could slow global growth to its lowest levels since the financial crisis.

Wall Street’s demeanor darkened significantly Tuesday after officials from the Centers for Disease Control and Prevention warned that the virus would inevitably take a toll on the United States and asked businesses and local communities to prepare for its impact. The Dow on Tuesday endured its worst two-day slump in four years, with the index chalking up back-to-back 3% declines.

Wednesday saw an early rebound, with the Dow advancing more than 400 points before turning negative. The reversal came after Germany announced that it was on the brink of an epidemic and Bloomberg News reported that a Food and Drug Administration official said the virus was on the “cusp of a pandemic.”

“Today’s 652-point swing in the Dow shows that there are buyers out there, but more investors are waiting on the sidelines, looking for better bargains,” said Howard Silverblatt of S&P Dow Jones Indices.

“No one knows for sure how much further this decline may have to run, but excesses have quickly been wrung out,” said Sam Stovall of CFRA Research.

The Standard & Poor’s 500 index on Wednesday dropped 12 points, to 3,116. The broad S&P has lost 7.97% in the past five sessions. That is also the biggest loss in two years. The tech-laden Nasdaq Composite broke a losing streak by finishing up 15 points to close at just over 8,980.

“The recent market carnage saw the S&P 500 futures fall 9% from the record high, and investors are nervous we could see further short-term weakness as history suggests outbreaks could take several months before the longer-term bullish trend reasserts itself,” Ed Moya, an analyst with Oanda, wrote Wednesday. “Until the global spreading of the virus appears under control, we could see continued downward revisions to growth forecasts.”

Overseas, investors shared Wall Street’s jitters. Europe’s benchmark Stoxx 600 index closed nearly flat, while Hong Kong’s Hang Seng Index closed down 0.7%, and Japan’s Nikkei 225 closed down nearly 0.8%.

Oil prices continued to fall, a reflection of the lower demand across the globe brought on in part by the coronavirus’s shackling of Asian economies. The U.S. oil benchmark West Texas Intermediate sank deeper below the $50 per barrel “make or break threshold,” trading at $48.71 late in the day. That’s its lowest price in a year. Brent crude, the global benchmark, fell to $52.75 per barrel.

Bond yields skirted near all-time lows. The yield on the 10-year Treasury note rebounded slightly from Tuesday’s all-time low. Yield drops as the price of a bond rises.

White House officials are playing down the threat posed by the outbreak. Larry Kudlow, President Donald Trump’s chief economic adviser, said late Monday that investors should consider “buying these dips.” On CNBC this week, Kudlow said he did not expect the Federal Reserve to react to the coronavirus and cut interest rates to juice the economy. He said there is “no supply disruption” appearing in the numbers that the White House is studying.

“We have contained this. We have contained this. I won’t say airtight, but pretty close to airtight,” Kudlow told CNBC in an interview Tuesday.

Publicly, Trump has said the coronavirus is “very well under control,” but privately he has been furious about the stock market’s slide, according to people familiar with the president’s thinking who spoke on the condition of anonymity to share internal details. After the Dow’s drop-off of more than 1,000 points Monday, Trump tweeted: “Stock Market starting to look very good to me.”

The outbreak has hobbled China’s powerful manufacturing sector, causing major supply-chain disruptions that have dampened revenue forecasts in a variety of industries. Retailers including Nike and Starbucks have closed stores in China, while Apple and Tesla have warned of the virus’s impact on their profitability. As scores of airlines reduce service, air travel demand is slated to decline this year for the first time since the financial crisis, with the virus costing the airline industry $29.3 billion, the International Air Transport Association warned this week. China’s idled factories and shut-in consumers have delivered a tough blow to the auto industry, which is expected to experience a 2.5% decline in 2020 global auto sales, according to a new report from Moody’s.

“Negative psychological momentum continues to build,” Wayne Wicker, the chief information officer at Vantagepoint Investment Advisers, wrote in commentary Wednesday. “While they have initiated reductions, analysts will continue to be taking earnings estimates lower to reflect ongoing disruptions in supply chains and manufacturing.”

CAAT director-general Chula Sukmanop said on Wednesday (February 25) that one proposal is for a 50-per-cent reduction through year’s end in fees charged to the airlines – for landing, parking, office rentals and other services.

Others would see the two-week process for approving requests for flight adjustments shortened and

passenger-service charges halved to encourage more people to fly.

Nearly 9,800 flights to Thailand scheduled for March have been cancelled, representing a loss of three million passengers, Chula said.

Credit Suisse Group is also among lenders starting to implement alternative work arrangements in South Korea, adding Asia’s fourth-largest economy to the list of areas where staffers are being moved into different offices. That way, operations can continue should an infection prompt the closure of one location, according to people familiar with the matter. Banks are considering similar moves in Japan.

Firms from Shanghai to Hong Kong and now Seoul are rethinking how they work and travel to keep staffs safe and ensure that business continues. Deals involving Chinese companies have slumped, as have initial public offerings in Hong Kong. HSBC Holdings and Singapore’s three biggest banks have warned that the virus may force them to set aside more money for soured loans.

In South Korea, infections have topped 1,200, making it a new hot spot for the virus, that has killed more than 2,700 people globally. Infections in South Korea jumped from 51 a week ago, with a U.S. soldier stationed in the country becoming the first reported American military case. About two dozen countries including Singapore have levied restrictions on travelers from South Korea, while flights and tour-group trips to the nation are being canceled.

In Japan, Prime Minister Shinzo Abe called for major sporting and cultural events to be called off, postponed or scaled down over the next two weeks, saying the move was crucial in preventing the domestic spread of the virus. Japan has 164 confirmed cases.

The rapid spread of the virus has prompted the Bank of Japan to ask major banks about their preparedness for a worsening of the outbreak, people with knowledge of the matter said. Initial findings from the talks indicate that large financial institutions are well placed to deal with the situation, the people said, asking not to be identified.

UBS has put South Korea on a so-called level 2 as part of it business continuity planning, in line with Hong Kong and Singapore. China is categorized at level 3, signaling the highest risk, one of the people said.

South Korea is rated as an “increased caution” at HSBC, meaning that business travel can continue but that employees should reconsider the need for the trip and avoid the heaviest hit areas of Daegu and Gyeongbuk, a spokeswoman said. Morgan Stanley and Standard Chartered have also restricted travel to and from South Korea.

Morgan Stanley employees traveling from South Korea, or in close contact with someone who has been there, need to work from home for 14 days afterward, a person said.

Representatives for the banks declined to comment on the measures.

Banks are also starting to take measures in northern Italy, where more than 250 people have been infected. Many large companies, including Unicredit and Fiat Chrysler, have asked employees to work from home and cut back on business travel.

Economists have slashed this year’s growth forecasts for China to about 5.5%, compared with 6.1% last year. With most of Southeast Asia heavily reliant on China-linked supply chains and tourism, that has meant growth downgrades in the region as well: Thailand, for example, is seen slowing to barely above 2% this year, from 2.4% in 2019.

Almost all of Southeast Asia’s top six economies have cut interest rates this year, and economists are betting on more to come. On the fiscal side, Singapore has taken the lead with significant support to cushion its economy from the impact of the virus.

“We had previously expected the dovish wave in 2019 to subside, as global growth bottoms out and picked up slightly in 2020,” said Edward Lee, an economist for South and Southeast Asia at Standard Chartered in Singapore.

Given the virus outbreak, “we had already seen quite a few economies easing monetary policies and some sanctioning fiscal policies to mitigate the impact,” Lee said, with more rate cuts likely in Malaysia, the Philippines and Thailand.

Here’s how the growth outlook and policy reaction are shaping up across Southeast Asia:

– – –

– Indonesia

Southeast Asia’s biggest economy hasn’t recorded any confirmed coronavirus cases, but is calling on leaders worldwide to brace for a larger-than-expected hit to growth. Beyond trade and tourism, Indonesia is vulnerable to losses in exports of coal and palm oil, for which China is a major customer.

The central bank on Feb. 20 lowered its forecast range for economic growth this year to 5%-5.4%, from 5.1%-5.5%.

– Policy response

Bank Indonesia cut its benchmark interest rate Thursday after three straight holds, with Governor Perry Warjiyo pledging to keep policy “accommodative.” The next rate decision is set for March 19.

Finance Minister Sri Mulyani Indrawati said in a Bloomberg Television interview earlier this week that the government still has fiscal space to act without violating its budget-deficit limit of 3% of GDP. She said the government will increase payments to low-income households and is considering a tax break for companies if the situation turns “severe.”

– – –

Thailand

Heavy reliance on tourism, particularly from China, leaves Thailand among the most exposed in the region as travel restrictions weigh on the sector. The government estimates that the number of visitors could drop by about 2.8 million compared with last year, to 37 million. Receipts from Chinese visitors slumped 10% in January from the same time in 2019, according to Tourism Ministry data.

The baht, the strongest currency in the region last year, has plunged in 2020. Officials have said they’re comfortable with further currency weakness.

– Policy response

The Bank of Thailand cut its interest rate to a record low Feb. 5, and said it has more room to ease. Its next scheduled meeting is March 25.

Long-awaited budget legislation has been approved by parliament and awaits royal assent, with an expected 400 billion baht ($12.6 billion) in investment likely to filter through to the economy.

– – –

Singapore

Singapore has won praise for its anti-virus strategy, with new cases dwindling after several weeks in which the city-state had the highest number of confirmed cases outside China.

The government last week lowered the midpoint of its 2020 growth forecast to 0.5% from 1.5%, following last year’s 0.7% expansion, the weakest in a decade.

– Policy response

The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, said Feb. 5 that the Singapore dollar had room to weaken, fueling bets that the central bank will ease policy. The MAS’s next scheduled decision is in April.

The 2020 budget unveiled last week envisions Singapore’s biggest deficit since at least 1997. It included S$800 million ($573 million) in targeted measures to counter the virus, and S$5.6 billion in additional support for households and businesses to shore up the ailing economy.

– – –

Malaysia

The virus outbreak has punished the ringgit and threatens to lessen growth in Malaysia, which was already the weakest last year since 2009. A political crisis is stalling a planned fiscal response, further clouding the outlook for the economy.

– Policy response

Bank Negara Malaysia cut its benchmark interest rate Jan. 22, even before the spread of coronavirus made major news. The bank’s chief has said there’s more space to act as inflation remains low. The next planned decision is March 3.

– – –

Philippines

The Philippines is seeing a significant hit to tourism, with the government estimating about $445 million a month in losses for the sector. Travel restrictions also have affected work schedules for thousands of Filipinos employed overseas, whose remittances make up about 9% of GDP.

The economy is considered less vulnerable than others in the region, with authorities projecting a 0.7 percentage-point hit to GDP this year if the virus lingers through year’s end.

– Policy response

The central bank was among the first in the region to cut its benchmark interest rate in response to virus risk, on Feb. 6. Officials have said there’s “a lot of room” to cut further.

– – –

Vietnam

Vietnam is highly exposed to coronavirus risk through its tight supply chain with neighboring China. Schools have been closed, thousands of workers have been quarantined and flights between China and Vietnam have been suspended.

Exports plunged in January as the outbreak was setting in, and government officials have said economic growth this year could slow to less than 6% after reaching 7% last year. Officials are maintaining their target of 6.8% growth in 2020.

– Policy response

Vietnam’s central bankers have ordered commercial lenders to give loan relief to virus-hit businesses. So far there have been few hints of any forthcoming fiscal support.

– – –

Bloomberg’s John Boudreau, Sunil Jagtiani, Yudith Ho and Siegfrid Alegado contributed to this report.

The figure represents a 2.46-per-cent year-on-year increase.

Total spending among foreign tourists last month was down 3.6 per cent, to Bt188.8 billion, the ministry said.

There were 2.39 million arrivals from East Asia, up 3.55 per cent, and they spent Bt97.46 billion, down 2.26 per cent.

The number of visitors from other Southeast Asian countries grew by 12.25 per cent to 836,788, with total spending of Bt25.47 billion, up 11.14 per cent.

Some 1.03 million Chinese visited, down 3.71 per cent, with spending of Bt49.38 billion, down nearly 10 per cent.

Arrivals from Europe rose 3.4 per cent to 916,493, spending Bt61.96 billion, down 2.65 per cent.

Arrivals from North and South America dipped 3.3 per cent to 166,321, with spending of Bt10.85 billion, down 9.31 per cent.

The S&P 500’s four-day rout reached 7.6%, with losses accelerating Tuesday after the U.S. Centers for Disease Control and Prevention warned Americans to prepare for a coronavirus outbreak at home. That follows a rapid increase in cases from Italy to Iran and Japan, with a growing list of companies warning that profits will suffer as economies around the world suffer. The S&P, Dow Jones Industrial Average and Nasdaq Composite indexes all set record highs this month.

The 10-year U.S. Treasury yield fell to a record low of 1.3055% as investors sought shelter from the virus’s impact on the outlook for growth. All 11 sectors in the S&P 500 fell with energy, material and financial shares leading the declines. Volatility spiked, sending the Cboe’s measure of equity gyrations surging past 30 for the first time since 2018.

“The market is pricing in a significant slowdown in GDP and a 10% impact on earnings,” said Zhiwei Ren, portfolio manager at Penn Mutual Asset Management. “And since no one knows how bad the infection will be, it is hard to make a bet on economy.”

U.S. central bankers are closely monitoring the spreading coronavirus, but it is “still too soon” to say whether it will result a material change to the outlook, Federal Reserve Vice Chairman Richard Clarida said.

Elsewhere, European stocks closed in the red, while bonds from the region were mixed. Crude oil slumped again after Monday’s slide of nearly 4%.

Japanese shares tumbled more than 3% as traders returned after a holiday. Stocks fell in China and Australia and pushed higher in South Korea and Hong Kong. The yen strengthened against the dollar for a third day.

Erratic market moves suggest investors remain on edge over the economic impact of the virus. The World Health Organization has held off from declaring a global pandemic even as cases surged in South Korea, Italy and Japan.

“We know there will be supply disruptions, the question now is to what extent will it affect economic growth and more importantly for the stock market earnings growth,” said Sandip Bhagat, Whittier Trust Co.’s chief investment officer “The market is repricing to that new reality.”

Analysts at Oxford Economics Ltd. said the epidemic could wipe more than $1 trillion from global domestic product, while the International Monetary Fund lowered its growth forecasts for the world economy.

These are some key events coming up:

– Earnings keep rolling in from companies including: Peugeot SA on Wednesday; Baidu Inc., Best Buy Co. Inc., Occidental Petroleum Corp. and Dell Technologies Inc. on Thursday; and London Stock Exchange Group Plc on Friday.

– The Bank of Korea announces its policy decision on Thursday, with rising risks of an interest-rate cut.

– U.S. jobless claims, GDP and durable goods data are out Thursday.

– Japan industrial production, jobs, and retail sales figures are due on Friday.

These are the main moves in markets:

– – –

– The S&P 500 Index decreased 3.2% to 3,128.43 as of 4:01 p.m. New York time, the lowest in more than 11 weeks on the largest dip in almost 15 months.

– The Dow Jones Industrial Average sank 3.3% to 27,081.50, the lowest in four months.

– The Nasdaq Composite Index fell 2.9% to 8,965.61, the lowest in eight weeks on the largest drop in six months.

– The MSCI All-Country World Index dipped 2.4% to 542.98, the lowest in almost 12 weeks on the biggest decrease in almost seven months.

– The Stoxx Europe 600 Index fell 1.8% to 404.60, the lowest in more than 11 weeks.

– – –

– The Bloomberg Dollar Spot Index decreased 0.2% to 1,212.91.

– The euro rose 0.2% to $1.0885, the strongest in almost two weeks.

– The Japanese yen strengthened 0.6% to 110.10 per dollar.

– The British pound gained 0.6% to $1.3003, the strongest in a week.

– – –

– The yield on 10-year Treasuries sank five basis points to 1.33%, the lowest on record.

– The yield on 30-year Treasuries dipped four basis points to 1.80%, the lowest on record.

– Germany’s 10-year yield decreased three basis points to -0.51%, the lowest in almost 20 weeks.

– Britain’s 10-year yield fell two basis points to 0.519%, hitting the lowest in three weeks with its sixth straight decline.

– – –

– Gold weakened 0.6% to $1,632.93 an ounce, the first retreat in more than a week and the biggest fall in almost three weeks.

– Copper decreased 0.8% to $2.56 a pound, the lowest in two weeks.

– West Texas Intermediate crude dipped 3.1% to $49.79 a barrel, the lowest in two weeks.