As a result of coronavirus fears, Tesla (TSLA) stock is hit hard, while other companies are also suffering. Three major stock indexes have plunged.
As part of a massive market crash on Monday, Big Tech companies ended up losing billions-of-dollars of investors’ wealth. Apple is the most-affected Big Tech company from the Coronavirus outbreak as it largely depends on China for its manufacturing.
The impact of the coronavirus spread outside China is giving jitters to the entire financial markets as the average rate on the 30-year fixed mortgage has hit a low of 3.34% on Monday.
Today the price of Plug Power (PLUG) stock is falling. But its recent market performance has shown that it could become the new Tesla.
The recent fall in Microsoft (MSFT) stock might be nothing to worry about when the company’s general health and future plans are considered.
In the very recent past, Alphabet (GOOGL) stock has plunged a bit. However, the general trajectory and report of the company look quite positive.
Dow Jones futures plunges 800 points as the market opened in the European session. Analysts are speaking about a future market recession with possibilities of a 25% crash in Dow futures, as the coronavirus fears are spreading.
Tesla’s expansion plans with higher manufacturing outcomes by the end of 2020 are currently in the doldrums as China’s automobile industry witnessed a 92% drop in sales due to the coronavirus outbreak. TSLA stock started falling.
As Apple feels the heat from the coronavirus, AAPL stock is plunging and it looks like things might get worse for other tech stocks as well.
Facebook (FB) stock lost over 2% of its value on Friday and now its price is also decreasing in the pre-market. However, in the long term, it still looks viable.
Amazon (AMZN) is not the only stock that went down. Because of coronavirus, China will stop providing necessary physical and virtual services to the U.S. As a result, the market reacts with the overall drop in prices.
Global markets across Europe and Asia have plunged severely on Monday as South Korea and Italy report several new affected cases of the coronavirus on Sunday. Analysts request investors to maintain caution at this stage.
The development of technologies is moving forward and it can’t but influence the development of many industries. Big data and machine learning are believed to be the key factors for retail industry growth.
The noise around coronavirus is growing. Stocks in Asia are falling due to this situation and there are no signs of improvements.
TSLA, SPCE and PLUG stocks are among those that may be rallying due to speculative trading. This phenomenon is known as a ‘late-cycle’ market.