Dow slides more than 850 points as rising coronavirus counts threaten fragile recovery
U.S. and global markets shuddered Wednesday as an alarming rise in coronavirus infections moved European nations to initiate new businesses closures and elevated worries about the world economy.
The Dow Jones industrial average skidded 886 points or 3.2 percent during afternoon trading, extending a turbulent week of selling that sent the blue-chip index deeper into negative territory for the month. The S&P 500 tumbled about 3.2 percent, and the Nasdaq 100 gave up 3.4 percent.
The sell-off comes as the rolling seven-day average of new daily case counts in the United States hit a record 70,000 on Tuesday, and coronavirus-related hospitalizations shot up nearly 10 percent in the last week. On Tuesday, 73,627 cases were reported in the United States.
“Although statistically the start of one of the strongest periods for markets, covid-19 once again flips the narrative," said Jamie Cox, managing partner for Harris Financial Group. “The country is under significant stress, and the markets continue to reflect that reality. Thankfully, November has the potential to settle some big, outstanding issues.”
https://www.washingtonpost.com/business/2020/10/28/stock-market-today-coronavirus/
How about that stock market Donny?
= new reply since forum marked as read
