Coronavirus Crash: These 3 Stocks Are Getting Crushed by Social Gathering Bans
Shares of Walt Disney Co (NYSE: DIS), Live Nation Entertainment (NYSE: LYV), and Planet Fitness Inc (NYSE: PLNT) are down 15%, 33%, and 29% respectively as of 2:16 pm EDT on March 18, in one of the worst days for stocks in what has been a brutal past few weeks.
At this writing, all the major stock indices are falling sharply; the Dow Jones Industrial Average is down 10.4% and the S&P 500 down more than 9%. Today's sell-off means both benchmarks are once again down more than 30% from their 2020 highs.
Today's sharp turn downward for the market is being driven by increased cases of COVID-19, the illness caused by ;the novel coronavirus that's grinding the global economy to a halt. Global cases have topped 200,000, and government agencies are acting to restrict activities that could increase the rate of spread.
Source Fool.com
