LMT - Why Berkshire Hathaway Lockheed Martin and Harley-Davidson Stocks All Dropped This Morning
Over the weekend, congressional and White House plans for a quick bailout of companies crushed by coronavirus and a quick mail-out of cash checks to employees stuck at home and unable to earn wages fell apart.
With recession fears looming, but several Republican senators stuck in self-quarantine and Democrats generally unsupportive, the coronavirus stimulus bill failed to pass a vote in the Senate late Sunday -- and industrial stocks are getting pummeled in response. In early trading Monday, shares of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) and Lockheed Martin (NYSE: LMT) both tumbled more than 5%, and Harley-Davidson (NYSE: HOG) fell more than 10%.
As of 10:45 a.m., Berkshire shares remain down 3.7%, Lockheed 4.3%, and Harley 7%.