USA - Economic Chaos: Dow Jones Today, Stocks Retreat: Cruise Lines, Airlines, Oil Prices Under Pressure; Gilead Sciences, Regeneron Rise| Investor's Business Daily

Stocks returned to their early lows Wednesday, as the market retreated following Tuesday's volatile rebound. Chemicals maker Dow (DOW) was among the hardest hit on the Dow Jones today, after providing a coronavirus update to its financials. Airlines were under presure after a series of analyst downgrades due to Covid-19 impact. Biotechs posted some of the morning's few gains, with Gilead Sciences (GILD) staking out an early lead.

Marriott International (MAR) tumbled 7.8%, the worst loss among Nasdaq 100 stocks.  Airline stocks retreated from Tuesday's gains, with American Airlines Group (AAL) falling 6.7% and United Airlines Holdings (UAL) down 6.8% and also near the bottom of the Nasdaq 100. Both stocks received analyst downgrades, and Goldman trimmed its forecast for passenger air traffic by 7% for 2020, due to coronavirus impact.

Gilead Sciences posted a lonely gain among Nasdaq 100 stocks, up almost 2%.

Oil names slipped to the bottom of the S&P 500, with producers Noble (NBL), Apache (APA) and Occidental Petroleum (OXY) all down more than 12%. Coronavirus-stricken cruise lines were also steering back toward lows. Royal Caribbean Cruises (RCL) tumbled 6.2%. Carnival (CCL) took a 6.1% dive.

Read more at: Dow Jones Today, Stocks Retreat: Cruise Lines, Airlines, Oil Prices Under Pressure; Gilead Sciences, Regeneron Rise| Investor's Business Daily