Fear of fear grips markets as spread of outbreak shows no sign of slowing

THE week saw one of the fastest stock-market corrections in history. It could also lead to the fastest bear market, unless economic-stimulus measures can do what central bank stimulus could not - tamp down fear of the coronavirus epidemic.

US stocks finished one of the wildest weeks since the global financial crisis more or less flat, as professionals and amateurs alike were taken on a rollercoaster ride.

But the stock market was tame compared with the Treasury market, where buyers charged headlong into safe-haven long-term bonds. The turmoil looks set to continue this week.