Why Berkshire Hathaway, Mastercard, and UPS Stocks Plunged Today
Stock markets took a big turn for the worse on Thursday, with the tech-heavy Nasdaq falling 5.3%, the Dow tumbling 6.9%, and the S&P 500 falling somewhere in between, closing the day at a 5.9% loss.
The carnage was extensive, and even blue chip names like delivery giant United Parcel Service (NYSE: UPS), credit card kingpin Mastercard (NYSE: MA), and Warren Buffett's holding company Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) couldn't escape unscathed. Indeed, as businesses so huge that their fortunes mirror those of the entire economy ("economic bellwethers," as the saying goes), they suffered declines in line with those of the stock market as a whole: UPS down 5.8%, and Mastercard and Berkshire Hathaway down 7% each.
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Source Fool.com