Stocks tumble as Dow sheds over 400 points
It’s risk off with the Dow tumbling over 400 points and yields dropping. Plus, Disney shares take a hit as Solo tanks and Roseanne gets axed. We have the latest. And Starbucks is shutting down right now as sensitivity training begins. What does it mean for the world’s largest coffeeshop chain. Plus, is today’s selloff your time to buy? We get the lowdown from JPMorgan’s Asset Management group. Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks in the red include Morgan Stanley as its wealth management co-head said it was facing challenging business conditions; CIBC as the Canadian bank said nearly 90,000 customers may have had their personal info stolen during a cyber breach; and PG&E, with shares of the utility dropping as the California Department of Forestry found—in three wildfire cases last year—that clearance requirements between trees and power lines were violated.
Stocks in the green include Momo as the China based internet company beat on earnings and revenue, reporting a 21% jump in monthly active users; Kinder Morgan as the energy MLP sold its Trans Mountain Pipeline system for $3.5 billion; and Universal Display, with shares of the OLED tech firm higher as South Korea’s Electronic Times reports Apple has decided to use OLED screens for all three new iPhones coming out this year.
