{"id":151823,"date":"2020-03-05T22:01:07","date_gmt":"2020-03-05T22:01:07","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=151823"},"modified":"2020-03-05T23:22:26","modified_gmt":"2020-03-05T23:22:26","slug":"u-s-markets-plunge-on-virus-fears","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/u-s-markets-plunge-on-virus-fears\/","title":{"rendered":"U.S. markets plunge on virus fears"},"content":{"rendered":"

Volatility continues to rule American markets as coronavirus<\/a> cases increase in New York, New Jersey and now California. The Dow closed nearly 1,000 points down 3.58%, while the S&P and Nasdaq weren’t far behind. Airlines, hotels and travel stocks were crushed. American Airlines<\/a> plunged over 13%, while Hyatt Hotels<\/a> sank 7.74%. Companies on the west coast are telling employees to stay home, including Google<\/a>, which fell nearly 5%. Thursday’s losses nearly wiped out Wednesday’s huge gains.<\/p>\n

Abroad, OPEC<\/a> is reacting to fears that the virus could wipe out oil demand growth this year by threatening to make its deepest oil production cuts since the recession over a decade ago. The move would hold back 3.6% of global supplies. OPEC will present this plan to OPEC+ (led by Russia) on Friday.<\/p>\n

In Canada, the TSX didn’t slide as far, shedding merely 1.34%, but Air Canada<\/a> plummeted 8.3%. Aside from the virus, headlines were jammed with news. Ottawa is ordered the telcos<\/a> to slash their data plan prices within two years. As everyone knows, Canadians pay some of the highest cell fees on the planet. In the embattled weed sector, market leader Canopy<\/a> announced layoffs<\/a>, a multimillion-dollar writedown and two warehouse closures due to weak demand. Canopy faded by 5.5%.<\/p>\n

✈ American Airlines Group<\/a> -13%
\n🏢 Hyatt Hotels<\/a> -7.74%
\n🧮 Alphabet Inc. \/ Google<\/a> -5%
\n✈ Air Canada<\/a> -8.30%
\n✈ Canopy Growth Corp.<\/a> -5.50%<\/p>\n","protected":false},"excerpt":{"rendered":"

Volatility continues to rule American markets as coronavirus cases increase in New York, New Jersey and now California. The Dow closed nearly 1,000 points down 3.58%, while the S&P and Nasdaq weren’t far behind. Airlines, hotels and travel stocks were […]<\/p>\n","protected":false},"author":12,"featured_media":345019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-151823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/151823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=151823"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/151823\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/345019"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=151823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=151823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=151823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}