Apple's Stock Plunges $20 as Stock Market Trading Temporarily Halted After Opening Bell
Apple's stock opened at $255.94 this morning, down nearly $20 from a closing price of $275.43 on Wednesday, as the COVID-19 coronavirus pandemic continues to result in wild fluctuations on the stock market this week.
The broader S&P 500 index dropped over seven percent shortly after the opening bell this morning, triggering an automatic suspension of trading for 15 minutes.
Apple like many large companies is taking several precautions in relation to the COVID-19 outbreak around the world, including closing all Apple Stores in Italy, suspending Today at Apple sessions in several regions, and more. It is also looking very likely that Apple will not hold WWDC 2020 as a physical event, with other large developer conferences like Google I/O and Facebook F8 having already been canceled.
Apple reportedly encouraged its employees in Cupertino and many other locations to work from home this week if possible.
COVID-19 was declared a pandemic by the World Health Organization on Wednesday.