Why Shares of Capri Holdings are Down Sharply Today

Shares of Capri Holdings (NYSE: CPRI), the parent company of Michael Kors and other upscale brands, were down sharply on Thursday on growing investor concerns about the effects of the coronavirus outbreak. 

As of 2:30 p.m. EST, Capri Holdings' shares were down about 8.6% from Wednesday's closing price. 

Investors may have largely digested the impact to Capri Holdings (and its rivals) from the outbreak of novel coronavirus in Asia, but concerns are growing about Europe as well.

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Source Fool.com