Major U.S. indexes continued to report losses during midday trading despite a 15-minute trading halt launched earlier this morning when the S&P 500 opened more than 8% lower.
The S&P 500, Dow Jones Industrial Average and the Nasdaq were all down nearly 9% to 2,477.35; 21,082.47; and 7,163.42, respectively.
The yield on a 10-year Treasury bond plunged 22% to 0.75%.
The price of gold was down 1.8% to $1,490.
The price of oil decreased 7.9% to $29.22 a barrel.
HEALTHCARE
Irvine-based Healthpeak Properties (NYSE: PEAK) fell 20% to $23 and an $11.7 billion market cap. In a Monday update, the real estate investment trust said it anticipates “the disruptions caused by the pandemic will result in a deterioration in performance relative to our initial expectations for at least the next few months.” Most at risk is the senior housing portfolio, which will experience lower occupancy and higher operating margins, Healthpeak said.
RESTAURANTS
Lake Forest-based Del Taco (Nasdaq: TACO) dropped 33% to $2.68 and a $102 million market cap while BJ’s Restaurants Inc. (Nasdaq: BJRI) fell 29% to $14.47 and a $278 million market cap. The S&P 600 Restaurant Index was down 19% on fears of reduced operating hours in this industry. Both companies had trading volumes about twice their daily average.
