Saturday, 29 February 2020

Coronavirus Outbreak Crashed Markets : 3 Biggest Losers in Stock Market

By Danny Peterson

stock market



Tesla, American Airlines, and United Airlines were some of the worst stocks in the stock market this week as the coronavirus outbreak crashed markets.

 

 All of the poor performing stocks listed below come from the Nasdaq 100 which closed this week at 8,461.84, falling over 550 points. TheStreet's expert analyst team calculated the worst performers by the percentage change in the Nasdaq 100 for the week ending Feb. 28th.

 

 

1. American Airlines AAL | Percentage Increase: -31.52% | Friday Closing Price: $19.02

 

Airline stocks are lower after a report said the coronavirus outbreak could cost air carriers in the Asia-Pacific region $29 billion of revenue in 2020. The coronavirus hit American Airlines (AAL) - Get Report the hardest after it cut its share price nearly a third.
The coronavirus spread could get worse for travel-related stocks as companies around the world could start cutting non-essential travel. American was one of the leaders in travel to China along with most international travel so this turbulence was expected.


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