Why Pfizer Stock Is Plunging Today
Big pharma titan Pfizer Inc. (NYSE: PFE) is having a painful morning. The drugmaker's shares dipped by as much as 5.4% in early morning trading Monday morning in response to the ongoing coronavirus outbreak. The main headline is that the virus has rapidly spread across Italy, Iran, South Korea, and the United States in recent days.
As a result, a worldwide recession, sparked by an interruption in global trading, appears to be a near certainty at this point. Pfizer's shares have rebounded slightly from their early morning swoon, but they are still down by 3.57% as of 9:58 a.m. EDT.
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Source Fool.com
