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Disney, Amazon, ViacomCBS Shares Hit as Stock Market Tumbles Amid Coronavirus Fears

 
 
 
Disney, Amazon, ViacomCBS Shares Hit as Stock Market Tumbles Amid Coronavirus Fears

Fears of the Coronavirus spreading across the world sent major stock indices tumbling on Monday morning. Shares of Disney and Amazon were down 4% for the day as reports that the deadly virus has hit South Korea and Italy spooked investors.

The Dow Jones Industrial Average was down more than 1,000 points, or 3.5%, at the close of trading Monday. That marked the Dow’s third biggest drop ever in total points, behind the 1,175-point plunge on Feb. 5, 2018, and Sept. 29, 2008, when it dropped 777 points. The Dow’s biggest swan dive overall basis came on Oct. 19, 1987 when the index fell 23%, or 508 points.

The NASDAQ was down on Monday more than 355 points, or 3.7%. dropped more than 300 points, or 3%.

Disney, which is vulnerable to pandemic concerns because of its theme parks, saw shares fall nearly 4.2% to $133.01. Amazon, another company with global exposure, fell 4.1% to $2,009.29. ViacomCBS shares, which were battered last week after the company’s first post-merger earnings report, were also down nearly 5% to $26.93.

Apple also felt the pinch of the uncertainty that is expected to dampen the hardware giant’s sales in China. Shares dropped 4.8% to $298.18.

Netflix, AT&T, Comcast, Discovery, Fox Corp. and AMC Networks were more resilient against the downturn, posting drops in the 1%-3% range.

Source: variety.com
 
 
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