Major U.S. indexes plunged for a second straight day on fears of a coronavirus global pandemic
The S&P 500 was down 1.6% to 3,175.56.
The Dow Jones Industrial Average fell almost 2% to 27,414.79.
The Nasdaq dropped 1.7% to 9,066.20.
The yield on a 10-year Treasury bond plummeted 3.5% to 1.33%.
The price of gold decreased 1.5% to $1,651
The price for a barrel of oil fell 1.6% to $50.59.
Chipmaker Skyworks Solutions Inc. (Nasdaq: SWKS) of Irvine fell 2.5% to $108.45 a share for a market cap of $18.5 billion. The shares have been sliding since Apple, which is a major Skyworks customer, announced a week ago that it wouldn’t meet its second-quarter revenue guidance due to the coronavirus outbreak in China.
Foundation Building Materials Inc. (NYSE: FBM) of Santa Ana plunged 7.1% to $16.88 a share for a market cap of $728 million. The company announced on Monday that fourth-quarter 2019 revenue of $514.8 million missed the average analyst estimate by about $24 million.