Valley Stocks Fall Along With Market

Public companies in the Valley region traded lower on Monday as the Dow Jones Industrial Average plummeted more than 1,000 points. Yahoo Finance reported that concerns about the coronavirus sparked the sell-off on Wall Street. Among Valley companies with large capitalization, Walt Disney Co. in Burbank declined 4.3 percent, Amgen Inc. in Thousand Oaks fell 2.2 percent and California Resources Corp. in Chatsworth went down 7.4 percent. For reference, the Dow Jones Industrial Average lost 1,031 points Monday, or nearly 3.6 percent, to close at 27,960. Other Valley-region companies with significant losses included Asgn Inc. in Calabasas with negative 5.7 percent, Semtech Inc. in Camarillo with a drop of 8.2 percent, Teledyne Inc. in Thousand Oaks with a fall of 4 percent and Sylmar construction company Tutor Perini Corp. with a decline of 6 percent. Within the Valley economy, the company with the most visible exposure to the coronavirus is Princess Cruises. The Santa Clarita company’s ship Diamond Princess was quarantined for 14 days in Japan because of the infection, and several cruises have been canceled. Shares of Princess’ parent company, Miami-based Carnival Corp. & plc, declined 9.4 percent Monday on the New York Stock Exchange.