The global flight to the safety of government debt continued on Friday as investors piled into U.S. Treasurys and sent the yield on the 10-year note to record lows.

The yield on the benchmark 10-year Treasury sank to an all-time low of 0.676% at 9:46 a.m. ET, extending its break below 0.7% for the first time ever, per Tradeweb data. The rate was last seen slightly higher at 0.791%.

At lows, the yield on the 30-year Treasury bond hit a fresh record low of 1.259%; the 5-year yield fell to 0.532%; and the 2-year yield dropped to 0.439%. Bond yield fall as their prices rise.

The plunge in yields came amid an exodus from stocks as disruptions to businesses around the world on the back of the coronavirus outbreak heighten fears of a global slowdown. The latest coronavirus figures from the World Health Organization (WHO) indicate at least 95,270 cases of the virus worldwide and at least 3,280 deaths.

The angst came despite the U.S. Federal Reserve's first emergency, 50-basis-point cut since the financial crisis earlier this week and the fact that U.S. lawmakers approved roughly $8 billion in emergency spending to combat the disease.

"It's a brave new world of 0-handles and we've now taken to referencing 10-year yields in basis point terms. 1.0%, thanks for the memories," wrote Ian Lyngen, head of rates strategy at BMO Capital Markets.