Rising infections and dimming stimulus optimism compound uncertainty in the run-up to the election.
U.S. markets slumped Monday as investors grappled with uncertainty about economic stimulus negotiations and soaring coronavirus cases across the country.
The Dow Jones industrial average fell 650 points, or 2.3 percent, to 27,686. The S&P 500-stock index tumbled nearly 1.9 percent, to 3,401, while the tech-heavy Nasdaq composite index dropped 1.6 percent, to 11,359. The sell-off erased all of the blue-chip index’s gains for October.
The United States hit a record high in new coronavirus cases Friday, with more than 83,700 reported, according to data from Johns Hopkins. The resurgence is compounding volatility in the countdown to the presidential election, said Craig Erlam, an analyst with OANDA. Continue reading.