What's Driving Tractor Supply 13% Lower Monday?
Shares of Tractor Supply Company (NASDAQ: TSCO), a large rural lifestyle retailer in the U.S. with over 2,000 stores in 49 states, are down nearly 13% Monday morning as the broader markets plunged roughly 7% and triggered a 15-minute circuit breaker.
Before we get into more direct implications for Tractor Supply, it's worth noting what's going on in the broader markets. COVID-19 concerns continue to rise as the number of cases now tops 100,000 globally. Italy has become one of the worst hit countries, as its government decided to quarantine its Northern region. Investors and consumers are clearly more concerned that COVID-19 could cause a global economic slowdown or recession.
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Source Fool.com
