Photo: Spencer Platt/Getty Images

Stocks closed down more than 3% on Thursday, while yields on the benchmark government bond — considered a safe-haven asset — hit new lows.

Why it matters: Market volatility isn't letting up, and fears continue to mount about the coronavirus' impact on the economy and businesses. The S&P 500's biggest decliners Thursday were cruise-lines and airlines — including Royal Caribbean, Carnival and American Airlines.

By the numbers: Thursday's losses erased nearly all of Wednesday's 4% gains. The index is back in correction territory, or 10% below its record high.

  • The best-performing S&P 500 stock on Thursday was Kroger, which said it was benefiting as anxious consumers stockpiled pantry staples, per the Wall Street Journal. Shares rose more than 8%.

Of note: The yield on the U.S. 10-year treasury note hit a record low of 0.898% on Thursday, reflecting investors' fears about the global economy as the coronavirus outbreak spreads.

Go deeper

5 hours ago - Health

15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
6 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.