by Tyler Hale
Today has been a rough day on Wall Street. The Dow Jones Industrial Average has plummeted by more than 800 points amid concerns that a new outbreak of coronavirus will negatively impact the global economy.
In a press briefing on Monday, Feb. 24, World Health Organization Director-General Dr. Tedros Adhanom Ghebreyesus confirmed that there were coronavirus cases in Italy, the Islamic Republic of Iran and the Republic of Korea, in addition to the Wuhan region of China. The WHO has already declared a public health emergency of international concern – the organization’s highest alert status.
While he says the virus is not a pandemic, Ghebreyesus emphasizes that the outbreaks are “very concerning” and that countries must work on containment while preparing for a potential pandemic. “Does this virus have pandemic potential? Absolutely, it has. Are we there yet? From our assessment, not yet.”
Dow Jones average for Feb. 24, 2020 (Source: Google)
Following the coronavirus updates, stocks began falling dramatically – with the Dow Jones plunging 1,003 points by noon. The stock exchange has since risen approximately 160 points. At the time of this article’s publication, the Dow Jones had fallen 843.58 points, or 2.9 percent.
Nasdaq Composite average for Feb. 24, 2020 (Source: Google)
The Nasdaq Composite had lost a greater percentage of its value, falling 3.06 percent. It had lost 292.85 points, sitting at a total of 9,283.74.
S&P 500 Index average for Feb. 24, 2020 (Source: Google)
Comparatively, the S&P 500 Index has had the smallest decline by percentage. It has lost 2.57 percent of its value, falling 85.79 points.
Several Arkansas companies have been affected by the stock scare. Walmart’s stock has dropped by $1.60, or 1.35 percent of its value. The Bentonville retailer’s stock sat at 116.99 per share.
Walmart stock value for Feb. 24, 2020 (Source: Google)
All of the Arkansas Fortune 500 companies, with the exception of Windstream Holdings, have seen their stock value fall. Tyson Foods Inc. has dropped by approximately $1.81, or 2.33%, to $76.02 per share. Murphy USA’s stock has dropped by $1.40 per share, or 1.35 percent. Murphy’s stock fall is resting at $102.18 per share.
The biggest stock drops have been J.B. Hunt Transport Services, Inc.,Dillard’s, and ArcBest Corp.. J.B. Hunt has seen its stock dip 3.83 percent to $105.50 per share – a decrease of $4.20 per share. Dillard’s has experienced a bigger percentage loss than J.B. Hunt but a similar value loss. The retailer’s stock has declined 6.61 percent, losing $4.18 per share, and the stock now is $58.02 per share.
The largest stock decline is ArcBest Corp, which has declined by 6.88 percent. Its stock is now $23.11 per share – a dip of $1.69 per share.
By contrast, Windstream Holdings has posted a positive stock value, rising 0.40 percent. The company’s stock value, however, is $0.063 per share.
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