SAN ANTONIO – Editor’s note: This story is published through a partnership between the San Antonio Business Journal and KSAT.
Most public companies based in the San Antonio area took a hit as fears about the growing coronavirus outbreak caused the stock market to plummet this week.
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The Dow Jones Industrial Average fell 1,031 points on Monday — the third-largest drop in the Dow’s 124-year history — dragging most of San Antonio’s public companies down.
The CDC reported last week that while the virus has not spread into the U.S. yet, the agency is not ruling out the worst possible scenarios.
“If you’re watching the news, you may be hearing about schools shutting down and businesses closing in countries in Asia to reduce the potential spread of this virus,” said Nancy Messonnier, director for the CDC's National Center for Immunization and Respiratory Diseases, in a conference call Friday. “The day may come where we need to implement such measures in the U.S. communities.”