The Zacks Analyst Blog Highlights: Medtronic, Boston Scientific And Abbott Laboratories
Zacks Investment Research | Mar 10, 2020 09:15PM ET
For Immediate Release
Chicago, IL – March 11, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Medtronic (NYSE:MDT) , Boston Scientific Corp. (NYSE:BSX) and Abbott Laboratories (NYSE:ABT) .
Here are highlights from Tuesday’s Analyst Blog:
Coronavirus Ails S&P 500, MedTech Bears the Brunt
The novel coronavirus catastrophe continues to take a massive toll on the stock market. Yesterday was the worst day for the market since the 2008 financial crisis, so much so that it was termed as ‘Black Monday.’ Among the major indices, Dow Jones tanked more than 2000 points while the NASDAQ Composite Index shed 625 points. The S&P 500 Index closed 226 points lower, marking a 7.6% decline in a single day. Taking into consideration the huge daily trading volume of stocks on this coveted index, this massive fall is really appalling.
While an unexpected oil price cut in Saudi Arabia over the weekend contributed to this decline, the 2019-nCoV or COVID 19 continues to send jitters across share markets. Per the last reported figure, the death toll reached 4027. Over the last weekend, daily death growth factor exceeded 1, a clear sign that the number of deaths will increase.
Investors are quite apprehensive about the current market scenario, making the overall situation more critical. Following last week’s emergency rate cut by Fed, the World Bank and IMF’s declaration of a respective $12 billion and $50 billion of support to control the economic fallout of all COVID-19-affected countries, market watchers are linking the latest rate cut as a clear indicator of another economic recession impending.
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