It’s hard to miss news headlines about COVID-19. The coronavirus outbreak has brought the world to its knees. Schools have closed, workplaces have shuttered, and many worry about the far-reaching effects of the virus on financial markets.
As governments around the world rush to implement measures to tackle the coronavirus outbreak, the markets are seeing the devastating effects of the virus.
Stalled U.S. Bull Market
From airlines and cruise lines to retailers and energy companies, stock prices have seen drops as much as 80 percent since the market started to dip on February 21.
Since then, the S&P 500 has wiped out almost all its gains since President Trump took office in 2017.
Travel-related stocks and energy companies were hit hard, and even as the Federal Reserve moved to implement measures to stem the carnage, stock prices continue to fall.
Here are the 19 Biggest Losers of COVID-19
- Traditional oil and gas companies struggled before the pandemic and now have collapsed to multidecade lows. Big names include Halliburton (HAL) and Apache (APA).
- Travel and leisure companies like airlines and casinos faced weak demand before coronavirus and have only crumbled further since. Examples include Norwegian Cruise Line (NCLH), Carnival (CCL) United Continental (UAL), and MGM Resorts (MGM).
- Mall and shopping center names like Darden Restaurants (DRI) have tumbled as shoppers stay home.
|Apache||APA||Oil & Gas Production||-84.08%|
|Norwegian Cruise Line||NCLH||Hotels, Resorts and Cruise Lines||-83.46%|
|Noble Energy||NBL||Oil & Gas Production||-82.62%|
|Royal Caribbean Cruises||RCL||Hotels, Resorts and Cruise Lines||-78.95%|
|Halliburton||HAL||Oil & Gas Production||-77.99%|
|Alliance Data Systems||ADS||Credit Services||-77.88%|
|Carnival||CCL||Hotels, Resorts and Cruise Lines||-77.69%|
|Occidental Petroleum||OXY||Oil & Gas Production||-74.98%|
|Devon Energy||DVN||Oil & Gas Production||-74.20%|
|United Airlines Holdings||UAL||Airlines||-72.59%|
|Marathon Petroleum||MPC||Oil & Gas Refining||-71.69%|
|TechnipFMC||FTI||Oil & Gas Equipment||-70.44%|
|Helmerich & Payne||HP||Oil & Gas Drilling||-70.18%|
Table shows price changes between February 21 and March 18.