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MarketWatch MarketPulseFeb 26, 2020
Cruise stocks extend losses, Royal Carribbean on track for longest losing streak in 17 years
Shares of cruise operators continued to sell off, reversing earlier brief bounces into positive territory, amid growing fears over the global spread of COVID-19. Shares of Carnival Corp. , which had edged up as much 1.0% in early trading, dropped 2.2% toward the lowest close since October 2014, as the stock has tumbled 19.1% amid a 5-session losing streak. Royal Caribbean Cruises Ltd.'s stock slumped 1.8%, after being up as much as 1.6% earlier, toward the lowest close since January 2017. It was headed for a ninth-straight loss, which would be the longest losing streak since the nine-day stretch ended Feb. 13, 2003, according to Dow Jones Market Data; the stock has plunged 25.0% during the current streak. Norwegian Cruise Line Holdings Ltd. shares reversed an earlier gain of as much as 0.7% to trade down 2.8% toward the lowest close since November 2016. The stock was suffering a 5-day losing streak in which it slid 26.5%. Meanwhile, the S&P 500 rose 1.5%, putting it on track to snap a 4-day losing streak in which the index shed 7.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseFeb 26, 2020
Dow gains 330 points at the open as stocks attempt to end coronavirus-inspired losing streak at 4 sessions
U.S. stock benchmarks rose sharply Wednesday morning as investors attempted to find their footing following a series of sharp declines that have been at least partly inspired by worries about the spread of COVID-19, the infectious disease derived from the novel strain of coronavirus that reportedly originated in Wuhan, China last year. The Dow Jones Industrial Average rose 330 points, or 1.2%, at 27,397, the S&P 500 index climbed 1.4% to 3,171, while the Nasdaq Composite Index advanced 1.7% at 9,119. Tuesday's decline was the fourth straight for all three major equity indexes. There are now 81,191 cases, and 2,768 deaths, according to recent reports. In corporate news, Walt Disney Co.'s shares were in focus after aw shares slide 1.9% in premarket trade after the entertainment giant late Tuesday announced that Chief Executive Robert Iger was stepping aside effective immediately and would be replaced by Bob Chapek, who has served as chairman of Disney Parks Experiences and Products.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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