On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains takes a look at the continued market volatility surrounding the coronavirus. We also dive into some economic outlooks and company-related news. And the episode closes with a look at why Applied Materials AMAT is a Zacks Rank #1 (Strong Buy) stock right now.The Dow fell 13% on Monday. This marked its second-worst day ever and helped it close at its lowest level since May 2017. Monday’s market downturn marked the continuation of not just the coronavirus selloff, but also the volatility, which was on display again Tuesday morning.The novel coronavirus has caused governments to restrict travel, while large gatherings are canceled and businesses close. Meanwhile, the global economic slowdown and uncertainty caused by the virus has many—including J.P. Morgan Chase JPM, Goldman Sachs GS, and other big banks—calling for a rough second quarter.In company-related news, McDonald's MCD said that it would close dining rooms at company-owned restaurants in the U.S. and is now calling on its franchisees to do the same. This came after Apple AAPL, Nike NKE, and other retail giants over the weekend announced they would close their stores.In some positive news, Amazon AMZN said it plans to hire an additional 100,000 employees amid the stay-at-home push. And Tesla TSLA announced that it delivered its first Model Y SUV.The episode then closes with a look at why Applied Materials is a Zacks Rank #1 (Strong Buy) stock, within a strong Semiconductor Equipment - Wafer Fabrication industry that includes Advanced Energy Industries, Inc. AEIS and Lam Research LRCX.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report NIKE, Inc. (NKE): Free Stock Analysis Report Amazon.com, Inc. (AMZN): Free Stock Analysis Report The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report McDonald's Corporation (MCD): Free Stock Analysis Report Lam Research Corporation (LRCX): Free Stock Analysis Report Applied Materials, Inc. (AMAT): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Advanced Energy Industries, Inc. (AEIS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research