Stocks Fall Sharply As Concern Over Coronavirus Grows

Stocks Fall Sharply As Concern Over Coronavirus Grows

Microsoft and Budweiser maker InBev became the latest large companies to warn investors about the virus' potential hit to their finances.. The price has been falling sharply as investors anticipate that demand for energy will wane as the economy slows.. Goldman Sachs on Thursday said earnings for companies in the S&P 500 index might not grow at all this year, after predicting earlier that they would grow 5.5%.. Strategist David Kostin also cut his growth forecast for earnings next year.. Before the virus worries exploded, investors had been pushing stocks higher on expectations that strong profit growth was set to resume for companies.. If profit growth doesn't ramp up this year, that makes a highly priced stock market even more vulnerable.. Several companies have managed to gain ground in the latest rout of stocks..