Stocks Eye Worst Day in Months
The Dow, S&P and Nasdaq are all eyeing their biggest slides since October
The Dow Jones Industrial Average (DJI) is continuing its steep slide today, giving up over 400 points at the midway mark as the quickly spreading coronavirus continues to dominate traders' attention. Should these losses hold, the blue-chip index could be on pace for its biggest one-day drop since early October. The S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) aren't faring much better, as airline and travel stocks take a massive hit, with both indexes also eyeing their biggest one-day drops since October.
Continue reading for more on today's market, including:
Chinese e-commerce stock JD.Com Inc (NASDAQ:JD) is seeing an unusual amount of bearish activity today as U.S.-listed stocks from the region continue their sharp sell-off amid coronavirus fears. So far, 31,000 puts have crossed the tape, four times the intraday average. The weekly 1/31 38-strike put is by far the most popular, with positions being purchased here. At last check, JD is down 4.3% to trade at $37.84, and is eyeing its first close south of its 20-day moving average in nearly two months.
An announcement that NanoViricides Inc (NYSE:NNVC) has completed an underwritten public offering worth $8.625 million before discounts and expenses, which includes 2.5 million shares of its common stock, has the biopharma concern in a top spot on the New York Stock Exchange today. So far, the equity is up 80.5% to trade at $15.25 and just touched a nearly two-year high of $17.77 earlier today.
Healthcare concern NeuroMetrix Inc (NASDAQ:NURO) is one of the worst performers on the Nasdaq today after posting $1.7 million in revenue for its fourth quarter, which was down 54% from this time last year. The stock is down 29.2% at $3.36 in response, and is on pace for its biggest one-day percentage drop in over 10 years.