Metro Atlanta
Metro Atlanta

Georgia companies feel the stock market pain, too

Specialist Philip Finale, background center, works with traders on the floor of the New York Stock Exchange, Monday. The Dow Jones Industrial Average plummeted 1,500 points, or 6%, following similar drops in Europe after a fight among major crude-producing countries jolted investors already on edge about the widening fallout from the outbreak of the new coronavirus. (AP Photo/Richard Drew)
Specialist Philip Finale, background center, works with traders on the floor of the New York Stock Exchange, Monday. The Dow Jones Industrial Average plummeted 1,500 points, or 6%, following similar drops in Europe after a fight among major crude-producing countries jolted investors already on edge about the widening fallout from the outbreak of the new coronavirus. (AP Photo/Richard Drew)
By Matt Kempner
March 9, 2020

Georgia's biggest public companies were slammed in Monday's broader stock market carnage. Stock prices for each of the 10 biggest publicly traded companies based in the state all fell sharply from their closes Friday.

Among the worst hit were box maker WestRock — down 12% — and Atlanta-based retailing giant Home Depot, off 8%.

Markets around the world have been on a roller coaster for the last two weeks. But the pain intensified Monday when a sharp further decline in prices set off a brief halt in New York Stock Exchange trading. Even with the restart, morning share prices remained down for the market overall and household names from Coca-Cola Company (-6%) to UPS (-7%) and insurer Aflac (-8%). Others that dropped include Delta Air Lines (-5%), farm equipment maker AGCO (-7%), Georgia Power-parent Southern Company (-7%), auto parts company Genuine Parts (-3%) and homebuilder PulteGroup (-8%).

Monday's fall managed to erase gains some Georgia companies had made since tough market declines in the last week of February.

About the Author

Matt Kempner is an award-winning journalist who seeks out intriguing twists about people and subjects beyond what the AJC might typically cover. A former columnist and editor, his past assignments have included business investigations, energy, the economy, entrepreneurs, big business, consumer spending, politics, government and the environment.

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