Pedestrians in Milan, Italy, where the coronavirus is spreading. (Photo: Francesca Volpi/Bloomberg)

As the coronavirus has spread more widely out of China, investors have taken note. At the market open on Monday, the three major U.S. stock benchmarks slumped 3 percent lower. Meanwhile, U.S. bond yields are plunging, with the 10-year note at 1.36 percent, its lowest yield since 2016, and the 30-year Treasury at 1.82 percent, a record low.

And the long-term impact of the virus may be greater than thought, Bob Browne, chief investment officer of Northern Trust, told ThinkAdvisor. “We think it’s premature to assume [the virus] is a blip” in global markets, he said.

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