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Mon Sep 21, 2020, 12:08 PM

Stocks Tumble as Surge in Virus Cases Imperils Recovery:

Wall Street slides as virus cases rise and Washington gridlock worsens.

Stocks on Wall Street slid for the fourth straight session on Monday, after a steep drop in global markets that was fueled by the rising prospect of tighter economic restrictions to control the surge in coronavirus infections.

The S&P 500 fell more than 2 percent. Shares in Europe were also sharply lower, with the benchmark Stoxx Europe 600 down more than 3 percent.

Investors had already been losing confidence in Washington’s ability to deliver another deal to support the hobbling U.S. economy, and the death of Justice Ruth Bader Ginsburg was seen as making that deal even less likely.

“From a purely political perspective, what already promised to be one of if not the craziest, and most politically charged election cycles of our lifetimes only heated up more,” analysts from Bespoke Investment Research wrote in a morning note to clients.

Shares of companies that are sensitive to the pandemic and the return of restrictions on travel in particular fared poorly on Monday. Delta Air Lines fell more than 8 percent, for example.

Energy, materials and industrial shares also tumbled, suggesting growing investor doubts about the outlook for the global economic recovery. Oil prices dropped more than 4 percent.

Sectors of the market relatively immune to the ups and downs of the business cycle, such as consumer staples, utilities and some large-cap technology companies fared better.

https://www.nytimes.com/live/2020/09/21/business/stock-market-today-coronavirus?

S&P 500
-2.58%
Dow
-3.29%
Nasdaq
-2.08%

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Reply Stocks Tumble as Surge in Virus Cases Imperils Recovery: (Original post)
elleng Sep 21 OP
beachbumbob Sep 21 #1
Warpy Sep 21 #2
elleng Sep 21 #3

Response to elleng (Original post)

Mon Sep 21, 2020, 12:12 PM

1. the most entertaining part of investment news are the wild ass "reasons" that opinions express

for one day movements up or down. Rarely is it ONE reason. Markets have a huge psychological aspect and right now all we have is negative crap and negative outlook for our country. Even when Biden gets elected, the core of america has been severely damaged on all levels

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Response to elleng (Original post)

Mon Sep 21, 2020, 02:21 PM

2. There's been enough of an increase in the UK that they're talking about lockdown again

and have instituted a £ 10,000 fine for breaking quarantine.

We're seeing a small increase around here but our weather is still warm, what we usually get in late August, not September.

However, it looks like this is going to get very bad over the winter if early signs are to be believed.

Opening schools anywhere was insane.

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Response to elleng (Original post)

Mon Sep 21, 2020, 04:53 PM

3. DOWN day:

S&P 500
-1.16%
Dow
-1.84%
Nasdaq
-0.13%

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