Why DexCom Stock Is Getting Trounced Today

Shares of the diabetes-oriented medical device maker DexCom (NASDAQ: DXCM) are tanking in lockstep with the broader market today. Specifically, DexCom's stock was down by an eye-catching 13.8% as of 10:37 a.m. EDT Monday morning.

DexCom, along with most other U.S. stocks, is reacting negatively to both the Federal Reserve's emergency rate cut over the weekend and the fallout resulting from the continued spread of COVID-19 across the globe. The bottom line is that the global economy appears headed for a prolonged rough patch. In turn, investors are selling off stocks this morning, presumably in favor of cold hard cash.

Image source: Getty Images.

Source Fool.com