The stock market lost ground on Tuesday morning, as investors reacted negatively to news that the COVID-19 outbreak would hurt revenue at the world's largest tech company. That warning made market participants focus again on the potential consequences of the epidemic on the global economy, and even though most anticipate only a temporary pause in economic growth, it's coming at a critical time. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 166 points to 29,232. The S&P 500 (SNPINDEX: ^GSPC) lost 11 points to 3,369, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 12 points to 9,720.
Yet many stocks defied the downward trend in the broader market to gain ground. Tesla (NASDAQ: TSLA) returned to its winning ways with another big jump, and many are looking at the electric-vehicle stock with newfound optimism. Meanwhile, Kroger (NYSE: KR) also got a nice boost as one of the world's favorite investors picked the stock to add to his portfolio.
Image source: Getty Images.