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With a day of light trading, stocks edged lower on Thursday with declines in Disney, Chipotle, Uber, and shares related to LeBron James.
The Dow Jones Industrial Average ended the day down slightly on Thursday, as investors were more focused on the growing coronavirus crisis than they were on Wall Street. The uncertainty caused by the spread of the virus has led to a volatile month-long trading period, with the Dow gaining and then eventually shedding nearly 5% for the week.
The losses were largely driven by drops in Disney, Chipotle, and Uber, which each reported a decrease in share values. Disney and Chipotle both fell over 4%, while Uber fell by over 5%. The declines in their respective stocks likely reflect the current economic environment.
Shares related to NBA superstar LeBron James, who recently signed a two-year extension with the Los Angeles Lakers, also declined. James’ Decision ATHLETICA dropped 6%, while shares of NIKE, the company James has endorsed for nearly two decades, declined by 1%.
With the coronavirus continuing to spread throughout the country, most investors are likely to remain cautious in the coming weeks. There is a good chance that the volatility in the markets will continue until the virus is brought under control. Until then, stocks could remain edgy.
