Markets dropped over new concerns about coronavirus spikes, a trend that affected OC-based restaurant and retail chains.
The S&P 500 fell 4.5% to 3,045.8 at midday trading.
The Dow Jones Industrial Average stumbled 5.3% to 25,555.8.
Nasdaq also fell by 3.9% to 9,637.4.
Crude oil fell 9.2% to $36 a barrel.
The price of gold rose 1% to $1,738 an ounce.
The yield on a 10-year bond collapsed 9.6% to 0.64%.
RESTAURANTS
BJ’s Restaurants, Inc. (Nasdaq: BJRI) dove 13% to $21.20 a share at midday trading with a $473 million market cap. Shares of the Huntington Beach-based restaurant chain are still up three-fold since mid-March. The S&P 600 Restaurant Index also dropped 6.4%. Other OC-based restaurant chains also saw share drops: Del Taco Restaurants Inc. (Nasdaq: TACO) declined 7%, El Pollo Loco Holdings Inc. (Nasdaq: LOCO) was down 4.9% and Chipotle Mexican Grill Inc. (NYSE: CMG) fell 2.3%.
Santa Ana-based Banc of California Inc. (NYSE: BANC) rolled back 11% to $10.80 a share with a $536 million market cap. Trading volume was a fourth of the daily average of 400,000.
Irvine-based Boot Barn Holdings Inc. (NYSE: BOOT) also did a double-digit decline of 10.6% to $22.70 a share with a $654 million market cap. Shares of the Irvine-based chain of shoe stores are still up more than 100% since early April.
