Business & Tech

Silicon Valley Stocks Battered Amid Coronavirus Fears

Tech giants including Facebook, Netflix and Apple saw their share prices tumble Monday amid growing fears surrounding the new coronavirus.

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CBS San Francisco, News Partner
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Menlo Park-based Facebook this week announced it will cancel its upcoming Global Marketing Summit due to concerns regarding coronavirus and its continued spread.
Menlo Park-based Facebook this week announced it will cancel its upcoming Global Marketing Summit due to concerns regarding coronavirus and its continued spread. (AP Photo/Ben Margot, File)

SAN JOSE (CBS SF) — The growing coronavirus outbreak that has forced Silicon Valley’s tech giants to cancel plans to attend trades shows and impacted their supply chain from China took aim at their share prices Monday as the stock market took a major tumble.

Facebook, which cancelled its global marketing meeting scheduled for San Francisco in March because of coronavirus fears, saw its stock price tumble 4 percent or $8.47 a share, by 7:30 a.m. PST. The social media giant also cancelled executives travel plans to China — the epicenter of the outbreak.

Read more at CBS San Francisco

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