United Airlines and Mastercard warned about the potential impact the coronavirus will have on 2020 results. The shares added to their Monday regular session declines with United losing 0.4% and Mastercard dropping nearly 3% after hours.
Micron shares also kept a lid on market sentiment Tuesday after a Bank of America analyst downgraded them to underperform from hold. The downgrade sent Micron down more than 1% in the premarket.
Investors fled the stocks as a surge in coronavirus cases outside of China intensified fears of a prolonged global economic slowdown.
The Dow sank more than 1,000 points, suffering its biggest point and percentage drop since February 2018. The S&P 500 plunged 3.3%, also the worst drop in two years. With Monday’s declines, the S&P 500 and the Dow both wiped out all of their 2020 gains.
