The fast-spreading virus has put an end to movies, date nights and maybe even the sales of office furniture, prompting some economists to call a U.S. recession. If you followed the stock market Monday Monday, it was clear that most of the American economy was grinding to an unparalleled halt and would remain that way for months.
Meanwhile, besides being the largest single day point loss in history, for industry sectors like office furniture, the dramatic loss was something never before seen. Here it is:
Interface, down 20.84%
Leggett & Platt, down 15.38%
HNI, down 16.28%
Knoll, down 18.42%
Kimball, down 16.03%
Dirtt, down 16.25%
Steelcase, down 16.05%
Herman Miller, down 14.40%
What will Tuesday bring for the markets and the office furnishings sector? It’s anybody’s guess at this point.