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Staple Trumps Sexy as Coronavirus Ravages Stock Market

William Ebbs
Bland names like The Dollar Tree, Clorox and Autozone finished higher on Monday as oil-price volatility and coronavirus ravaged the stock market. | Image: AP Photo/Rogelio V. Solis
  • The coronavirus crisis has sent the stock market into freefall and many of the most popular names are tanking.
  • Amid the carnage, boring stocks like the Dollar Tree, Clorox and Autozone are surprisingly resilient.
  • This trend reveals which companies will do well in an economic downturn – and investors should take note because a recession may be on its way.

Today has been one of the worst Monday opens in stock market history. At the start of early morning trading, the Dow crashed so hard it hit a circuit breaker and closed the market.

The carnage was also seen in the S&P 500 and the Nasdaq where many of tech’s biggest names saw their share prices crater over fears of the coronavirus pandemic.

The hottest companies in the market are seeing their share prices tumble. | Data by ycharts

Retail-darling Tesla (NASDAQ: TSLA) is down by double-digits while Apple (NASDAQ: AAPL), Facebook (NASDAQ: FB) and Amazon (AMZN) are all down by high single-digits. But while popular stocks are getting wrecked, boring stocks like Dollar Tree, Clorox, and Autozone are leading the market with respectable gains.

Read the full story on CCN.com.