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ASX 200 plunges 8% on open

Red arrow downward chart

The S&P/ASX 200 Index (ASX: XJO) has plunged 8% at the open because of the ongoing market fears about the coronavirus outbreak.

Almost every share within the ASX 200 is down as investors react to the news of the weekend.

What’s down heavily?

As you can guess, many of the largest companies on the ASX are down heavily. The Australia and New Zealand Banking Group (ASX: ANZ) share price is down 10%, the Commonwealth Bank of Australia (ASX: CBA) share price is down 9.2%, the CSL Limited (ASX: CSL) share price is down 9.6%, the National Australia Bank Ltd (ASX: NAB) share price is down 14.75% and the Westpac Banking Corp (ASX: WBC) share price is down 13.6%.

In terms of the most painful falls at the time of writing according to the ASX:

The share price of Southern Cross Media Group Ltd (ASX: SXL) is down 34%.

The share price of Atlas Arteria Group (ASX: ALX) has fallen 30%.

The share price of Credit Corp Group Limited (ASX: CCP) is down 23.25%.

The share price of AP Eagers Ltd (ASX: APE) has fallen a further 23%.

The share price of Afterpay Touch Group Ltd (ASX: APT) has dropped another 22.3%.

Is anything up?

There are currently two shares in the ASX 200 that are in the green.

The share price of gold miner Newcrest Mining Limited (ASX: NCM) is up 1.7%.

The share price of Healius Ltd (ASX: HLS) is up 0.9%.

Company updates today

A number of companies have announced things today.

The shares of Webjet Limited (ASX: WEB) and Flight Centre Travel Group Ltd (ASX: FLT) have gone into a trading halt to get a handle on the situation.

The share price of JB Hi-Fi Limited (ASX: JBH) is down over 24% after giving an update.

The share price of Sydney Airport Holdings Pty Ltd (ASX: SYD) is down another 7.4%.   

But brave investors may be seeing long-term opportunities at these lower prices.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO and National Australia Bank Limited. 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.

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