These Top Stocks Crashed As the Coronavirus Reached Pandemic Proportions
A lot of technology stocks crashed again on Wednesday, driven entirely by the COVID-19 coronavirus pandemic. Fast-growing tech companies tend to be more volatile than most other stocks, which makes them susceptible to very large moves when the general market is unstable. Fiber-laser maker IPG Photonics (NASDAQ: IPGP) fell as much as 11%. Cloud-based customer service specialist Zendesk (NYSE: ZEN) bottomed out at a 10.8% decline. Data analytics expert Splunk (NASDAQ: SPLK) fell 10.6%, and alternative database developer MongoDB (NASDAQ: MDB) dropped as much as 10.1%.
The COVID-19 coronavirus disease has now taken the lives of 4,600 people around the world among 125,000 infected. The World Health Organization declared that the disease should be considered a pandemic.
"Pandemic is not a word to use lightly or carelessly," said WHO director-general Tedros Adhanom on Wednesday morning. "It is a word that, if misused, can cause unreasonable fear, or unjustified acceptance that the fight is over, leading to unnecessary suffering and death."
Source Fool.com
