The past couple of weeks have been pretty ugly for investors. Since the broad-based S&P 500 reached its all-time closing high on Feb. 19, the benchmark index has logged five of its eight-largest single-day point declines in history (through March 9). In particular, the meltdown this past Monday, March 9, saw the S&P 500 post its largest single-session point decline (225.81 points), which equaled its 17th-biggest percentage drop (7.6%) in history.
While it'd be fair to say that virtually no sectors and industries were spared, the marijuana industry, which has already been pummeled for 11 months and counting, took it on the chin. That's because cannabis stocks were dealing with a multitude of issues throughout North America, long before coronavirus disease 2019 (COVID-19) showed up and threatened to disrupt global supply chains.
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