U.S. stocks fell on Thursday, giving back most of their weekly gains, amid renewed concerns over the coronavirus and its impact on the economy.
The Dow Jones Industrial Average dropped 419 points, or 1.6%. The S&P 500 slid 1.3%. The Nasdaq Composite traded 0.6% lower, erasing an earlier gain that put it on track for another record close.
Walgreens was the biggest laggard in the Dow, dropping 9.74% on weaker-than-expected earnings for the previous quarter. Walgreens also suspended a share repurchase program. Apple shares traded flat, giving up an earlier gain.
Shares of companies that would benefit from the economy reopening struggled. United Airlines, Delta and American all fell more than 4%. Carnival Corp dropped 3.7% and Royal Caribbean slid 5.3%. Kohl’s declined by 5.8%.
Source: CNBC