Kevin Caron of Washington Crossing Advisors and Chris Meekins of Raymond James join "Squawk Alley" to discuss the sell-off in the market amid coronavirus fears.

The deadly coronavirus, whose spread accelerated around the globe, is battering the stock market, and some U.S. companies are particularly vulnerable to the disease as their growth has been driven by Chinese consumers.

Wall Street analysts are issuing warnings about retailers, restaurants and hotels that have high revenue exposure to China as some of their businesses are forced to close after the death toll in the country climbed to at least 80.

Global brands Estee Lauder and Nike both generate 17% of their revenue from mainland China each year, Credit Suisse estimated based on the companies’ filings. The bank said if the coronavirus continues, both companies can see a 3% to 5% decrease in earnings per share next quarter.

Shares of Nike and Estee Lauder plunged 1.7% and 4%, respectively, on Monday as the broad market sold off on the deepening fears. Other apparel retailers with high China exposure include Coach and Kate Spade parent company Tapestry, Tommy Hilfiger, and Calvin Klein owner PVH and Vans parent VF.

The coronavirus’ impact on those retailers could be worse than the 2002-2003 outbreak of SARS, or severe acute respiratory syndrome, as many of them rely more on the Chinese consumers, according to Credit Suisse analyst Michael Binetti.

“China now a much bigger input to revs/EPS for global brands,” Binetti said. “The rate of retail sales growth in China slowed by about half during the peak of SARS.”

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