Daily Recap: Real Estate Steady As Stocks Slide
Fears over the spread of the potentially deadly coronavirus sent U.S. equity markets tumbling on Monday with the major averages dropping by the most since October.
The S&P 500 fell by 1.5% and the Dow Jones Industrial Average dipped more than 400 points, each adding to last week's declines.
Oil prices again extended their losses, dipping another 2.5% and helping to pull the 10-Year Treasury Yield lower by another 7 basis points to end the day at 1.61%.
Real estate equities were a relative safe-haven on the day as the broad-based commercial Real Estate ETF declined by 0.5%. Mall REITs were hit hard, however, after results from Tanger.
Homebuilders were another bright spot after strong earnings results from DR Horton, which beat on EPS and revenue and boosted the upper end of its 2020 guidance.