At the end of the worst week the stock market has seen since 2008, companies in the San Fernando Valley area suffered in the selloff that was attributed to the fear of coronavirus.
From the end of day last Friday through the end of day today, the Valley area’s top three public companies – Walt Disney Co. (DIS), Amgen Inc. (AMGN) and Public Storage (PSA) – dropped 15 percent, 11 percent and 7 percent, respectively, according to data from Yahoo Finance.
Miami, Fla.-based Carnival Corp., parent company of Princess Cruises in Santa Clarita, also saw its stock decline this week by nearly 20 percent.
The Diamond Princess cruise ship was the site of a widely publicized coronavirus outbreak, resulting in a 14-day quarantine at port in Yokohama, Japan with 700 confirmed cases of the virus linked to the ship.
For the week, the Dow Jones industrial average closed down 12 percent; the S&P 500 was down 11.5 percent; and the Nasdaq went down 10.5 percent.