Dow closes down 730 points as coronavirus cases surge
Stocks ended sharply lower Friday amid concerns over the rising number of coronavirus cases in the U.S. and its impact on the economic recovery.
The Dow closed down 730 points, or 2.8%. The S&P 500 slid 4.2%, and the Nasdaq dropped 2.6%.
Those losses were major averages’ second weekly drop in three weeks. The Dow and S&P 500 fell 3.3% and 2.9%, respectively, while the Nasdaq lost 1.9%.
“Coronavirus cases are spiking and reopenings are being delayed, which at a minimum will impact earnings,” said Tom Essaye, the founder of The Sevens Report. “The resurgence in coronavirus cases is raising concerns that the rebound may be short-lived as voluntary or potentially more government mandated economic shutdowns are becoming increasingly likely.”
https://www.msn.com/en-us/money/markets/dow-closes-down-730-points-as-coronavirus-cases-surge/ar-BB15YwxQ?li=BBnbfcN&ocid=DELLDHP
