The Motley Fool

ASX 200 plunges 8% on open

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.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

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.