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US stocks post worst day of the year after China devalues its currency

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The Chinese government devalues the yuan to fall below its 7-to-1 ratio with the US dollar for the first time in a decade

. Apple, Intel, Microsoft, Nvidia and Advanced Micro Devices were among the biggest losers on Monday.Fear & Greed IndexAlthough Monday was a terrible day for the market, investors should put the losses into perspective. The Dow is still up more than 10% this year, while the S&P is up 13.5%. The Nasdaq has posted a gain of more than 16% in 2019 even after Monday's selloff.

US government bonds rose and yields fell as traders looked for safe investments. Bond prices and yields move opposite to one another.

 

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