March 16, 2020

Stocks dropped today, with a trading halt being triggered for the third time since the Coronavirus fears began. Stocks continued their sell off once trading resumed with every major index finishing 12% lower.

 

Here’s a look at how the major indices finished the day:

Dow Jones -2,977 at 20,189

S&P 500 -325 at 2,386

NASDAQ -970 at 6,905

 

The 10 Year Treasury closed down 22 basis points yielding 0.73%

Oil prices closed down $3.12 ending at $28.99 a barrel

Gold prices closed down $23 ending at $1,494 an ounce

 

In the days’ stock news:

  • Cruise stocks, such as Royal Caribbean, Carnival and Norwegian Cruise Line, continued to drop after the industry temporarily suspended all voyages in response to the Coronavirus outbreak.
  • Apple shares dropped 13% after the retail giant announced it will close all its stores for the next two weeks. This does not include its 42 branded stores in China, which had reopened last Friday after a virus-related closure.
  • Caterpillar was upgraded at Stifel, which stated the heavy equipment maker’s stock is at an attractive entry point following the recent pullback.
  • Clorox was upgraded at JPMorgan Chase, as demand for disinfectant products surge.