Dow Jones Tumbles 1,200 Points on Virus Fears; Apple Stock Outperforms; Disney Stock Plunges
The good times are over for the Dow Jones Industrial Average (DJINDICES: ^DJI). The Dow was down 4.3% at 11:50 a.m. EDT Thursday as the possibility of a second wave of the novel coronavirus spooked investors.
Confirmed cases of the virus are surging in some places around the U.S. following the easing of lockdown measures and the reopening of the economy. In Texas, more than 2,500 cases were confirmed on June 10, setting a record for the state. Florida, California, and nearly a dozen other states are also seeing an increase in cases.
Apple (NASDAQ: AAPL) outperformed the Dow thanks to some analyst price-target bumps, but shares were still down amid the broad sell-off. Disney (NYSE: DIS) stock was hit much harder. The company is preparing to reopen its U.S. parks in a highly uncertain environment.
Source Fool.com
