Stock Market News: Deere Leaps, Zscaler Stumbles as Coronavirus Hits Markets
Wall Street saw stocks move lower Friday morning as market participants reacted to the latest news about the COVID-19 outbreak. With a rising number of new cases now appearing in South Korea, many medical experts are concerned that efforts to contain the disease might not prove as effective as originally hoped. Investors sought refuge in safe-haven plays like bonds and gold. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 243 points to 28,977. The S&P 500 (SNPINDEX: ^GSPC) fell 29 points to 3,344, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was off 115 points to 9,636.
Even amid virus fears, shareholders continued to respond to news affecting individual stocks. Deere (NYSE: DE) saw favorable results that lifted investors' spirits, but tech upstart Zscaler (NASDAQ: ZS) wasn't as fortunate, failing to give shareholders the positive picture they'd hoped to see.
Shares of Deere were up 8% after the heavy equipment manufacturer reported its fiscal first-quarter financial results. Despite a mixed performance, investors were generally pleased with how well the company held up under tough conditions.
Source Fool.com
