The ASX 200 crashed lower on Monday as fears over the coronavirus hit global markets. The S&P/ASX 200 Index (INDEXASX: XJO) closed 1.34% down as some of the biggest stocks crashed lower.
Only the ASX Utilities sector (+0.09%) climbed higher yesterday while Materials (-2.24%) and Energy (-4.22%) crashed out.
Here’s a recap of the biggest ASX news, events and movements that you missed on another big day of trade on Monday.
Worley share price crashes lower
The Worley Ltd (ASX: WOR) share price was hammered 8.46% lower on Monday after a leadership change for the ASX 200 engineering group.
Worley announced Chris Ashton as the new CEO and Managing Director effective 24 February 2020. This after the group announced the retirement of Andrew Wood after 7 years in the role.
Yesterday’s share price move also coincided with a broader sell-off in the ASX Energy sector. Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) shares were also hit hard while Origin Energy Ltd (ASX: ORG) crashed out after its quarterly update.
Coronavirus fears hit ASX travel shares hard
ASX travel shares fell lower on Monday as concerns around the coronavirus continued to build. The virus has now been declared a global health emergency by the World Health Organisation as it spreads further.
That saw investors sell down on ASX travel shares like Webjet Limited (ASX: WEB) as well as Crown Resorts Ltd (ASX: CWN).
The likelihood of less tourism from China hit some of the ASX’s biggest travel shares hard on Monday.
Lynas Corp shares down despite new contract
The Lynas Corporation Ltd (ASX: LYC) share price closed down 2.74% at $2.13 despite a new contract announcement.
Lynas shares slumped even though the company received “Major Project Status” by the Australian Government to establish a new rare earths processing plant.
The Kalgoorlie, Western Australia site will serve as a foundation for the development of infrastructure in Kalgoorlie.
That didn’t help Lynas shares, however, which were sold down on a weak Monday for Aussie markets.
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Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Crown Resorts Limited. The Motley Fool Australia has recommended Webjet Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.