Shanghai Disney to close indefinitely in response to coronavirus outbreak

Shanghai Disney to close indefinitely in response to coronavirus outbreak

Shares of Walt Disney Co. fell 0.8% in morning trading Friday, extending the previous session’s 1.3% selloff, after Shanghai Disneyland, Disneytown said it will “temporarily” close starting Jan. 25 in response to the coronavirus outbreak. The closure comes at the start of the Lunar New Year holiday. “We will continue to carefully monitor the situation and be in close contact with the local government, and we will announce the reopening date upon confirmation,” Shanghai Disney Resort said in a statement. Fellow Dow Jones Industrial Average components McDonald’s Corp. also said Friday that it had closed stores in Wuhan and surrounding cities in China because of the coronavirus outbreak, which has led to at least 25 deaths. Disney’s stock has gained 8.3% over the past three months, while the Dow Jones Industrial Average has advanced 8.7%.

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