Wall Street pulls back as dismal economic data piles higher

STAN CHOE

AP Business Writer

Stocks are falling on Wall Street Thursday after more reports made clear the worldwide devastation the coronavirus outbreak is causing for the economy.

The dour figures helped drive most U.S. stocks to losses, and the S&P 500 was down 1.2% in afternoon trading. Treasury yields also sank, while European stocks fell more sharply, slamming the brakes on a strong rally that had circled the world a day earlier.

"This is the saddest day for the global economy we have ever seen" in the 50 years that economists at High Frequency Economics have been following economic data,...