Stock Market News: Virgin Galactic Flames Out; Anheuser-Busch Loses Its Fizz

After a brief respite yesterday, the stock market continued its steep decline on Thursday morning. Fears about the spreading novel coronavirus show no signs of abating anytime soon, and the rising number of cases in new locations has investors becoming more pessimistic about the prospects of containing the outbreak before it reaches pandemic proportions. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 915 points to 26,043. The S&P 500 (SNPINDEX: ^GSPC) fell 104 points to 3,012, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped 352 points to 8,628.

There were plenty of losing stocks in the market, but some of the hardest hit included Virgin Galactic Holdings (NYSE: SPCE) and Anheuser-Busch InBev (NYSE: BUD). Despite being in very different industries, both stocks suffered from a loss of confidence among investors about their respective prospects for future growth.

Shares of Virgin Galactic Holdings were down 20% Thursday morning following moves from several Wall Street analysts. In the wake of the space tourism company's fourth-quarter financial report earlier this week, professional stock watchers had a chance to weigh in on Virgin Galactic's prospects.

Source Fool.com