Coronavirus: Tesla, Netflix rise on weak day for stocks

Coronavirus: Tesla, Netflix rise on weak day for stocks

3 years ago
Anonymous $9CO2RSACsf

https://www.siliconvalley.com/2020/05/04/coronavirus-tesla-netflix-rise-on-weak-day-for-stocks/

Bay Area companies such as Tesla, Netflix and Roku started the week off with solid gains on the stock market Monday, but lingering concerns about the fallout that the coronavirus crisis could have on the economy continued to cast a pall over Wall Street.

The Dow Jones Industrial Average fell 202 points, or almost 1%, to 23,521.48, and the S&P 500 was down by 0.5%, at 2,817.89 as investors showed consternation over the possible long-term effects of coronavirus upon several major U.S. industries. The fears were also stoked by legendary investor Warren Buffett, who over the weekend divulged that his Berkshire Hathaway holding company had sold all of its shares in air carriers United, American, Delta and Southwest due to the effect coronavirus has had on the industry.