Facebook cancels F8 developer conference due to coronavirus risk

Facebook Inc. announced Thursday that it would be canceling its F8 developer conference due to "growing concerns" around the coronavirus. The event was to take place in early May. The company said it would still stream videos and other content in lieu of hosting the in-person developer event. Facebook joins other prominent tech companies and organizations that have recently canceled events due to the outbreak. The GSM Association canceled its Mobile World Congress smartphone trade show that was scheduled to take place in late February, while Workday Inc. canceled its internal sales conference that was scheduled for next week. Shares of Facebook have dropped 5.6% so far this year, as the S&P 500 has slipped 4.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.