The stock market fell sharply on Friday, failing to build on momentum that took many major market benchmarks up 20% or more from their lowest levels. New worries about the coronavirus pandemic surfaced, and the threat of the $2 trillion stimulus bill getting delayed due to procedural voting requirements also raised some worries among investors who had taken the measure's passage for granted. As of 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 848 points to 21,704. The S&P 500 (SNPINDEX: ^GSPC) fell 88 points to 2,542, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped 267 points to 7,530.
The fight against the coronavirus has been wide-ranging, and SmileDirectClub (NASDAQ: SDC) announced its intent to join the battle by making a contribution of its own. Meanwhile, lululemon athletica (NASDAQ: LULU) announced its latest financial results, and despite solid numbers for the most recent quarter, shareholders are nervous about what the rest of 2020 could hold for the yoga apparel retailer.
Shares of SmileDirectClub were higher by 15% Friday morning, as investors applauded a shift that the company has made in response to the outbreak of COVID-19. Even though the company specializes in dental alignment appliances, SmileDirectClub is trying to bring smiles to medical professionals outside the dental profession.