Tedros Adhanom Ghebreyesus Live Nation Coronavirus Pop Music Tedros Adhanom Ghebreyesus Live Nation

Live Nation stock drops 15.6% after WHO declares coronavirus a “pandemic”

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thefader.com

The Dow Jones Industrial Average dropped over 1,600 points on Wednesday afternoon, nearly 20% below its record high set in February.

Stocks for entertainment conglomerate Live Nation were caught up in that drop, slipping 15.6% and erasing $1.7 in market cap valuation for the company, as Music Business Worldwide points out.

The dive comes as the novel coronavirus continues to spread across the world — it has now been discovered in 114 countries and has killed over 4,000 people.

On Wednesday, the World Health Organization (WHO) declared the disease a pandemic. Dr. Tedros Adhanom Ghebreyesus, Director General of the WHO, said: “Pandemic is not a word to use lightly or carelessly.

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