Apple shares plummet as coronavirus concerns persist

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As states with sizable populations like New York, California, and Illinois enact stay-at-home measures, the stock market dropped significantly before the close of trading on Friday.
Apple shares in particular fell by more than 6% and closed down below the $240 threshold for the first time in months.
With so much uncertainty surrounding the coronavirus and whether or not countries can stop it from spreading, there’s no telling when the stock market will make a full recovery.
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Amidst a report that the iPhone 12 release is still on schedule, investors thought that Apple might make a strong end-of-the-week push before the markets closed on Friday. As it turns out, the opposite happened. While Apple was seemingly holding strong at $240 a share for quite some time, Apple’s share price dropped abruptly during the last 40 minutes of trading today, falling from $241 a share down to $229. That represents a 6.35% drop for the day and, as a point of interest, the last time Apple shares dropped down below $230 was in October of last year.

Apple, of course, wasn’t the only company to close out the week with a sizable loss. The entire Dow fell more than 900 points in trading today, marking the end of what has been the most significant fall off in the stock market in more than 10 years. Over the past 5 days alone, the Dow fell by about 17%.

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Apple shares plummet as coronavirus concerns persist originally appeared on BGR.com on Fri, 20 Mar 2020 at 22:45:29 EDT. Please see our terms for use of feeds.