A Silver Lining Despite Kohl's, Gap, and Bed Bath & Beyond Stock Dropping 10% Friday

Shares of Kohl's (NYSE: KSS), Gap (NYSE: GPS), and Bed Bath & Beyond (NASDAQ: BBBY), all dropped over 10% at some point during Friday trading as retailers are shutting doors and investors remain concerned about the economic impact from the COVID-19 coronavirus.

Broader markets erased early gains Friday and dropped throughout the afternoon even after Treasury Secretary Steven Mnuchin announced the U.S. tax deadline will now be July 15, giving the nation an extra three months. As people continue to avoid gatherings and focus on purchasing necessities, it's spreading more pain to many retailers already struggling with slowing foot traffic.

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Source Fool.com