Stocks Inch Higher as Wall Street’s Turmoil Continues: Live Updates

Separately, Elon Musk, the chief executive of Tesla, said on Twitter that his electric car company would also produce ventilators “if there is a shortage.” Mayor Bill de Blasio of New York responded soon after, saying that the city was interested in buying ventilators and “could use your help.”

Disney has taken the biggest hit in Hollywood over the outbreak.

With its largest division (theme parks and consumer products) essentially closed, its movie and television studios idled and its ESPN operation with no live sports to broadcast, the Walt Disney Company’s market capitalization has fallen by about $57 billion over the last month.

Disney, which has a new chief executive, said in a regulatory filing on Thursday that it had become “challenging” to estimate future performance for various divisions.

Disney’s primary competitors have also been in free fall. But those giants have more diversified holdings. Comcast, with its internet and cable hookup unit offsetting its NBCUniversal movie and theme park division, has shed about $30 billion in value over the last month. ATT, which owns WarnerMedia, home to HBO, TNT, TBS, CNN and Warner Bros., is down by about $41 billion.

Tesla executives to meet with city officials about its Fremont car factory.

Tesla, the luxury electric carmaker, is expected to meet with city officials in Fremont, Calif., on Thursday about the company’s decision to continue running its factory there despite a county order limiting the operations of nonessential businesses.

Kimberly Petersen, the chief of the Fremont Police Department, and other city officials planned to meet with Tesla management to discuss compliance with the order, the department said on Twitter.

Article source: https://www.nytimes.com/2020/03/19/business/stock-market-today-coronavirus.html