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A heightened fear of the coronavirus spread over the weekend amid reports of scores of new infections in Italy, pummeling U.S. stock indexes in early trading Monday.
The Dow Jones Industrial Average DJX, +0.00% fell as much as 997 points (or 3.4%) during morning trading. The S&P 500 SPX, -2.79% was down as much as 3.2% and the Nasdaq Composite COMP, -3.29% plunged as much as 4.4%.
Travel-related and technology stocks were hit particularly hard.
The world’s integrated supply chains have investors worried about potential disruptions among companies based far away from the areas that have been hardest-hit by the virus.
Many vulnerable people have lived in what Chris Dillon, T. Rowe Price’s investment specialist for global capital markets, calls “closed-habitat systems.” These aren’t limited to cruise lines, but include factories with dormitory housing for workers, such as Foxconn Technology 2354, -0.66% FXCOF, +0.00%, which handles the final assembly of Apple’s AAPL, -4.11% iPhones in China. In an interview Feb. 21, Dillon said: “Foxconn has told its people not to go back” to some of the dormitories, which could hinder a return to normal assembly schedules.
Dillon said that while he and colleagues were “not understating the human tragedy,” it was important for investors to have perspective about the scale of the coronavirus. “Last year, 42 million people contracted the flu and 61,000 died” in the U.S. alone, he said.
Remember Warren Buffett’s sage advice: Don’t buy or sell on the headlines.
The Dow 30
In the first few minutes of trading Monday, all but one of the 30 components of the Dow Jones Industrial Average were down.
| Company | Ticker | Price change – Feb. 24, 2020 | Price change – 2020 | Decline from 52-week high | Price change – 2019 |
| Microsoft Corp. | MSFT, -3.33% | -5.5% | 7.1% | -11.5% | 55.3% |
| UnitedHealth Group Inc. | UNH, -6.91% | -5.2% | -2.8% | -6.9% | 18.0% |
| Apple Inc. | AAPL, -4.11% | -5.0% | 1.3% | -9.3% | 86.2% |
| Visa Inc. Class A | V, -3.63% | -4.4% | 6.3% | -6.8% | 42.4% |
| Walt Disney Co. | DIS, -4.62% | -4.3% | -8.1% | -13.3% | 31.9% |
| American Express Co. | AXP, -3.91% | -3.9% | 4.1% | -6.2% | 30.6% |
| Boeing Co. | BA, -3.50% | -3.8% | -2.4% | -28.7% | 1.0% |
| Nike Inc. Class B | NKE, -3.69% | -3.7% | -4.7% | -8.6% | 36.6% |
| Dow Inc. | DOW, -4.39% | -3.5% | -14.8% | -23.0% | #N/A |
| Intel Corp. | INTC, -3.24% | -3.4% | 3.9% | -10.3% | 27.5% |
| Goldman Sachs Group Inc. | GS, -2.19% | -2.9% | -2.6% | -10.6% | 37.6% |
| Caterpillar Inc. | CAT, -3.00% | -2.9% | -9.8% | -11.5% | 16.2% |
| J.P. Morgan Chase & Co. | JPM, -2.53% | -2.9% | -5.4% | -6.5% | 42.8% |
| Exxon Mobil Corp. | XOM, -3.46% | -2.7% | -17.6% | -31.1% | 2.3% |
| United Technologies Corp. | UTX, -3.03% | -2.5% | -1.4% | -6.8% | 40.6% |
| Cisco Systems Inc. | CSCO, -3.33% | -2.4% | -5.8% | -22.5% | 10.7% |
| 3M Co. | MMM, -2.54% | -2.2% | -13.0% | -30.2% | -7.4% |
| International Business Machines Corp. | IBM, -1.51% | -2.2% | 9.4% | -7.6% | 17.9% |
| Chevron Corp. | CVX, -2.99% | -2.1% | -11.5% | -16.2% | 10.8% |
| Home Depot Inc. | HD, -1.38% | -1.7% | 10.5% | -2.5% | 27.1% |
| McDonald’s Corp. | MCD, -0.65% | -1.4% | 7.7% | -4.1% | 11.3% |
| Pfizer Inc. | PFE, -1.85% | -1.4% | -10.1% | -20.9% | -10.2% |
| Coca-Cola Co. | KO, -1.01% | -0.9% | 7.7% | -0.9% | 16.9% |
| Travelers Companies Inc. | TRV, -0.35% | -0.8% | -2.1% | -13.5% | 14.4% |
| Johnson & Johnson | JNJ, -1.51% | -0.7% | 2.0% | -3.7% | 13.0% |
| Procter & Gamble Co. | PG, -1.55% | -0.7% | 0.7% | -1.8% | 35.9% |
| Walgreens Boots Alliance Inc. | WBA, -3.13% | -0.7% | -13.3% | -28.9% | -13.7% |
| Merck & Co. Inc. | MRK, -0.01% | -0.5% | -9.9% | -11.5% | 19.0% |
| Walmart Inc. | WMT, -1.19% | -0.4% | -0.6% | -5.8% | 27.6% |
| Verizon Communications Inc. | VZ, +0.26% | 0.4% | -4.8% | -6.1% | 9.2% |
| Source: FactSet | |||||
You can click on the tickers for more about each company.
S&P 500
Among the S&P 500, 470 stocks were down. Here are the 10 worst performers:
| Company | Ticker | Price change – Feb. 24, 2020 | Price change – 2020 | Decline from 52-week high | Price change – 2019 |
| American Airlines Group Inc. | AAL, -8.79% | -9.1% | -11.8% | -31.2% | -10.7% |
| Advanced Micro Devices Inc. | AMD, -6.78% | -8.6% | 6.2% | -17.8% | 148.4% |
| Tapestry Inc. | TPR, -8.31% | -7.8% | -4.3% | -29.4% | -20.1% |
| IPG Photonics Corp. | IPGP, -4.11% | -7.6% | -13.9% | -31.5% | 27.9% |
| Ralph Lauren Corp. Class A | RL, -5.99% | -6.9% | -6.7% | -18.2% | 13.3% |
| Micron Technology Inc. | MU, -4.03% | -6.8% | -1.2% | -13.2% | 69.5% |
| Norwegian Cruise Line Holdings Ltd. | NCLH, -8.10% | -6.7% | -24.9% | -26.7% | 37.8% |
| Capri Holdings Ltd. | CPRI, -3.54% | -6.7% | -32.3% | -48.4% | 0.6% |
| Nvidia Corp. | NVDA, -5.40% | -6.6% | 16.7% | -13.2% | 76.3% |
| Cimarex Energy Co. | XEC, -7.70% | -6.5% | -24.3% | -47.8% | -14.9% |
| Source: FactSet | |||||
Nasdaq
Here are the 10 components of the Nasdaq-100 Index NDX, -3.36% showing the greatest declines Monday:
| Company | Ticker | Price change – Feb. 24, 2020 | Price change – 2020 | Decline from 52-week high | Price change – 2019 |
| American Airlines Group Inc. | AAL, -8.79% | -9.1% | -11.8% | -31.2% | -10.7% |
| Advanced Micro Devices Inc. | AMD, -6.78% | -8.6% | 6.2% | -17.8% | 148.4% |
| Micron Technology Inc. | MU, -4.03% | -6.8% | -1.2% | -13.2% | 69.5% |
| Nvidia Corp. | NVDA, -5.40% | -6.6% | 16.7% | -13.2% | 76.3% |
| Tesla Inc. | TSLA, -6.10% | -6.6% | 101.2% | -13.1% | 25.7% |
| Expedia Group Inc. | EXPE, -6.21% | -6.2% | 4.1% | -21.8% | -4.0% |
| Booking Holdings Inc. | BKNG, -6.74% | -5.9% | -11.7% | -13.4% | 19.2% |
| Lam Research Corp. | LRCX, -4.27% | -5.8% | 2.1% | -13.3% | 114.7% |
| Lululemon Athletica Inc. | LULU, -4.34% | -5.5% | 4.3% | -9.2% | 90.5% |
| Applied Materials Inc. | AMAT, -4.81% | -5.5% | -0.5% | -12.5% | 86.4% |
| Source: FactSet | |||||
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